Demographics of New Zealand - Income

Income

New Zealand's early economy was based on sealing, whaling, flax, gold, kauri gum, and native timber. During the 1880s agricultural products became the highest export earner and farming was a major occupation within New Zealand. Farming is still a major employer, with 75 000 people indicating farming as their occupation during the 2006 census, although dairy farming has recently taken over from sheep as the largest sector. The largest occupation recorded during the census was sales assistant with 93,840 people. Most people are on wages or salaries (59.9 percent), with the other sources of income being interest and investments (24.1 percent) and self-employment (16.6 percent).

In 1982 New Zealand had the lowest per-capita income of all the developed nations surveyed by the World Bank. In 2010 the estimated gross domestic product (GDP) at purchasing power parity (PPP) per capita was roughly US$28,250, between the thirty-first and fifty-first highest for all countries. The median personal income in 2006 was $24,400. This was up from $15,600 in 1996, with the largest increases in the $50,000 to $70,000 bracket. The median income for men was $31,500, $12,400 more than women. The highest median personal income were for people identifying with the European or "other" ethnic group, while the lowest was from the Asian ethnic group. The median income for people identifying as Māori was $20,900.

Unemployment peaked above 10 percent in 1991 and 1992, before falling to a record low of 3.4 percent in 2007 (ranking fifth from twenty-seven comparable OECD nations). Unemployment rose back to 7 percent in late 2009 and was 6.8 percent during the June 2010 quarter. The 2006 census reported that while the proportion of people with no source of income was the same as 2001, the number of people receiving the unemployment benefit dropped 48 percent. Most New Zealanders do some form of voluntary work, more women volunteer (92 percent) than males (86 percent). Home ownership has declined since 1991, from 73.8 percent to 66.9 percent in 2006.