Employees aged 65 years and over showed the greatest increase in both job growth and earnings over the five-year period 2000-2005, according to statistics released by Statistics New Zealand from Linked Employer-Employee Data (LEED) from September 2005. Although those employees had one of the lowest levels of earnings, they had the highest increase in earnings--39.2% (from $4,750 to $6,610)--and the highest rate of job growth--109.4%.
The Figures also show a rise in job growth of 48.3% for those aged 55–59 years and 67.7% for those aged 60–64 years. The 15 to 19-year age group was associated with the second largest growth rate in earnings (26.8%)--which may have been influenced by annual increases in minimum youth wage rates, while the 55 to 59-year age group followed with the third largest growth rate in earnings (23.7%).
Source: Statistics New Zealand Media Release (November 27, 2006)