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Contributions of Employment Change to Annual Wage Growth in New Zealand

We analyse trends in average wage growth in New Zealand from 1997 to 2015, focusing on the contributions of within‐group wage growth and employment compositional changes, and whether there have been secular or cyclical changes in these contributions. Real wage growth was mildly pro‐cyclical over the period, and has been weaker during the recovery from the global financial crisis. We estimate that within‐group wage growth dominated aggregate wage growth, and compositional changes provided only trivial contributions. Furthermore, within‐group wage growth is primarily from constant composition wage growth, contributing on average 0.9 per cent to annual wage growth, while improvements in observable human capital characteristics of workers contributed 0.4 per cent on average.