On Tuesday, Statistics New Zealand was published by the Labour Cost Index (LCI).

As per the data, the salary has grown annually by 1.6% and wages increased by 0.4%, per annum. It depicts that there is an average rise of 1.5% in salary from first quarter and the wages growth has declined by 4% from September 2008.

The public sector annual wages and salaries increased by 2.1%, while that of private sector increased by 1.5% in the second quarter.

There is a surge of 1.3% in full-time equivalent employees for the year and 1% from April till June.

Though, the figures show a slow recovery in the economy of New Zealand but this can be taken optimistically, as a slight surge has been experienced in the employment level.

CTU Economist Bill Rosenberg said, "While that is less than the rate of inflation, the picture is improving".

Philip Borkin, an economist of Goldman Sachs stated that the employment conditions can get better, as the Companies are likely to hire more staff. He also added that the firms are posting gross profits, which also increased the data released by LCI.

As per the quarterly employment survey (QES), in the second quarter, the gross earnings have advanced by 1.8% and that of half-yearly by 4.6%.

There are positive signs of consumer spending to speed up, but the inclination of people towards reducing their debt would hinder it, as told by Borkin.