Retail wage growth cools sharply as sector struggles with tight margins and weak consumer demand
Wage growth in New Zealand's retail sector has slowed to a third of last year's pace, with employers citing restructuring, tight margins and sluggish consumer confidence.
Wage growth across New Zealand's retail sector has slowed significantly, now moving at only a third of the pace seen in the previous year. The retail peak body attributes the slowdown to restructuring within the sector, tight profit margins and cautious consumer spending patterns.
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Retail pay barely budges amid 'tight margins, sluggish consumer confidence'
Wage growth across the sector has cooled to a third of last year's pace, with the peak body pointing to restructuring, tight margins and cautious shoppers.