Strikes on increase in tight labour market

New Zealand had more strikes in the 12 months ended June 30 as accelerating inflation and a record-low unemployment rate prompted workers to seek higher wages.

There were 59 strikes, partial strikes and lockouts in the year ended June 30 compared with 41 a year earlier, Statistics New Zealand said yesterday.

Forty-five of the stoppages arose from wage disputes, the agency said.

Companies should be paying higher wages as inflation accelerates and the low jobless rate creates labour shortages, according to the Council of Trade Unions.

Eighteen of the strikes and lockouts were in the manufacturing industry, Statistics NZ said. The strikes involved 16,123 workers and resulted in the loss of $5.2 million in wages and salaries.

- BLOOMBERG