New Zealand’s adult minimum wage rate will increase by 2 per cent to 23.15 NZ (New Zealand) dollars, (14.12 US dollars) an hour from April 1. “The government has taken a cautious approach to the minimum wage this year as the economic context has changed significantly over the past year,” Van Velden said. However, as a ratio to the median wage, the minimum wage has increased from 62 per cent of the median wage in June 2017 to 72 per cent in June 2023. However, the opposition Labor Party criticised the minimum wage increase as “tiny.”The minister stated that the increase has taken into consideration the current economic conditions and the historically large increases to the minimum wage that have distorted relativities with other wage earners. However, training wages and starting wages will remain at 80 per cent of the adult minimum wage rate.

Source: Nigerian Tribune February 01, 2024 10:35 UTC