1.The first task is to find some raw data.
Complete the table below including the three missing percentage change values. .
The values for March 2000 are shown as well as the 2000 to 2018 percentage change for Accommodation and Food Services so you will know when you have the correct series. The format of your data should match the data that is shown.
This task is not as straightforward as you may think. Trust me, the data is there but it may take a bit of searching.
2.Explain why the percentage change you have calculated for each of the four wage rates is misleading as an indication of whether workers are better off or not.
3.Complete the table above by calculating real hourly wage rates. Calculate percentage change figures. The ones for Accommodation etc. are shown.
4.In what periods prices are the above real wage rates expressed? Explain how you know this.
5.Using the first three rows of data in table 2, compare:
(a) the Minimum Wage to the All Industries average hourly wage.
(b) Accommodation and Food Services to Financial and Insurance Services.
6.You should comment on wage level and growth. You should provide a plausible reason for why wage level and growth might be different in each case. You do not need to find “the right” reason – just a plausible one that could be tested to see if it is right.
7.How has the change in the cost of housing in New Zealand affected real wage growth? (Use the data in table 1 and 2 to answer this question).
8.Incomes of workers at the lower end of the pay scale are certainly a current topic of interest. Write a short expectation report that outlines what you expect to happen to the real the minimum wage and real wages in the accommodation and food services industry.
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