$NZ minimum wage earners will be near global top 1%

The only country with a higher minimum wage than New Zealand is Australia.

Australia’s is $US13.59.

Ours is $US10.96. That’s an annual income, for a 40 hour week, of $US22,796.

The government has determined that the minimum wage will increase to $NZ20 an hour by 2021. That’s about $US14 which would be an annual income for a 40 hour week of $29,120.

New Zealand’s current minimum wage is very high in comparison with that in other countries.

It will probably be the highest in the world when it gets to $NZ20/hour and will put those on the minimum wage close to an annual income of $US32,400 a year which is in the top 1% of earners in the world.

I doubt if anyone on $NZ20 an hour would feel wealthy.

That figure of global income earners is low because in very poor countries a lot of people earn very, very little.

That’s not an argument for paying people here the pitiful amounts many earn elsewhere.

But it does show that the current minimum wage is generous in comparison with that in most other countries.

 

 

 

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