Living Wage Vs Minimum Wage Nz The main difference between the minimum wage and the living wage is that the minimum wage is a legal requirement whereas the living wage is optional for businesses The living wage is higher than the minimum wage The minimum wage The minimum wage is the minimum hourly rate that employers can legally pay most adult employees in New Zealand
Minimum wage what employees are entitled to If an employee is aged 16 or over the employee must be paid at least the minimum wage There are 3 types of minimum wage adult The minimum wage paid to employees over 16 years old who are not trainees or employees earning the starting out minimum wage By 1 September 2024 accredited Living Wage Employers should pay the Living Wage rate of 27 80 T hey can pay the 2023 24 rate of 26 00 until 31 August 2024 There s a difference between an employer who pays a living wage and an accredited Living Wage Employer
Living Wage Vs Minimum Wage Nz
Living Wage Vs Minimum Wage Nz
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The 2024 25 New Zealand Living Wage rate is 27 80 per hour The 1 80 increase aligns with a 6 9 increase in New Zealand s average hourly wage From 1 September 2024 staff and regular contractors of accredited Living Wage Employers will earn at least 4 65 per hour more than the minimum wage The minimum wage went up about 7 to 22 70 on April 1 while the living wage will rise by 9 9 to 26 from September 1 this year Both changes reflect New Zealand s high cost of living at the moment but the two figures are set by different people and they have different impacts on different groups of Kiwis
The New Zealand living wage is based on local living costs and calculated by the New Zealand Family Centre Social Policy Unity before being published by the Living Wage Movement The current living wage rate in New Zealand for 2023 2024 is 26 00 an hour marking an increase of 2 35 or 9 9 on the 2022 23 rate The Living Wage rate is not linked to the minimum wage or any announcements made about the minimum wage When the Government announced a 2 per cent increase to the minimum wage to 23 15 per hour there were mixed reactions prudent tiny cautious moderate and pathetic The Living Wage is different from the minimum wage
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Minimum Wage in New Zealand The minimum wage in New Zealand is the lowest wage that an employer is legally required to pay their employees It is set by the government and is reviewed annually to ensure it keeps pace with the cost of living and economic conditions As of 2021 the minimum wage in New Zealand is 20 00 per hour Key Points For New Zealand despite huge increases in inflation over the past two years the living wage for those employed in NZ is considered to be 23 65 hr and minimum wage in NZ is 21 20 How is minimum wage decided Minimum wage is reviewed annually and looks at a number of important social aspects
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