Households made up for the loss in real wages by working more hours (principally by more women and young people) and going into debt.
A report by Simon Collins in the New Zealand Herald 25/11/06 found that average family income in 2001 in constant dollars was the same as in 1981 despite the fact that the proportion of women working went from 47% to 61% and the percentage of families working 50+ hours a week went from half to two thirds.
In New Zealand average household debt went from 60% of GDP 15 years ago to 150% today. This is the second most indebted in the OECD. Much of this went into housing with the banks fuelling a housing price bubble as prices doubled since 2000 – the same as they did in the UK and Australia. We were told not to worry. We were encouraged to use our houses as an ATM machine. Average household expenditure exceeded average income on average about 6% for those 15 years but increased to 15% in the mid 2000s. In the 3 decades before 1980 households saved on average about 10% of their income.
(Part of a series of extracts from “Exposing Right Wing Lies” by Mike Treen, Unite National Director)
The Union Report with CTU President Helen Kelly and PSA National Secretary Richard Wagstaff
Issue 1: How does the Public Sector view asset sales? Are Union members protected? Issue 2: Are League Tables an effective measure for public servants, should we be implementing them in education? and Issue 3: We changed our labour laws for Warners to make the Hobbit, yet TVNZ News reveal that Warners have closed their NZ offices – when should we change labour laws for corporations?
Coming up… 2nd July – Lesley Harry from NZNO & First Union; 9th July – Helen Kelly & MUNZ; 16th July – CANZ? & ?; 23rd July – Helen Kelly and NZDWU
Produced by Bomber twitter.com/CitizenBomber Citizen A 7pm Thursday Triangle TV Facebook/CitizenBomber
OTHER UNION NEWS THIS WEEK
CTU: Liability for death of Charanpreet Dhaliwal http://www.scoop.co.nz/stories/PO1206/S00308/liability-for-death-of-charanpreet-dhaliwal.htm
Sacked waitress awarded $10k http://www.stuff.co.nz/national/7068100/sacked-waitress-awarded-10k
SFWU: Clean-up needed in industry full of cowboy operators http://www.scoop.co.nz/stories/PO1206/S00305/clean-up-needed-in-industry-full-of-cowboy-operators.htm
In Harm’s Way: A Case Study Of Pacific Workers In Manukau Manufacturing http://www.dol.govt.nz/publications/research/hs-practices-in-pacific-workplaces/exec-summary.asp
NZ slammed in US ‘slavery’ report http://www.stuff.co.nz/national/crime/7136340/NZ-slammed-in-US-slavery-report
Young man dead after job goes wrong http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10813502
Tapu Misa: Money blinds ACC to principles http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10813637
Victory for Southern Paprika workers http://workersparty.org.nz/2012/06/24/victory-for-southern-paprika-workers/
Jane Kelsey: Secrecy in investment talks mocks democracy http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10814123
Waitress fired for serving boss wrong drink http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10811628
Dismissal of bar manager justified – ERA http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10811453
Fired security guard thought aftershocks triggered alarms http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10811246
Oceania Rest Home Dispute Settles http://newsroom.co.nz/stories/oceania-rest-home-dispute-settles