Unemployment rose slightly in the June quarter, fuelling speculation the economy is slowing and may need more stimulation to get to full employment, Thomas Coughlan reports.
New Zealand's jobless rate inched higher in the June quarter and wage inflation remained tepid, however, growing pressure from strike action across different sectors could spur an eventual lift.
Unemployment ticked slightly up in the June 2018 quarter, ending five quarters of consecutive falls and defying market expectation. Thomas Coughlan reports.
Economists are tipping the second-quarter unemployment rate to remain steady, but some say Wednesday's data may point to signs of wage inflation as the impact of a lift in minimum wage kicks in and migration continues to slow. Rebecca Howard previews the numbers.
The Reserve Bank has left the official cash rate or OCR at 1.75 percent for the tenth consecutive decision. In a statement this morning the RBNZ said it expected the rate to stay at 1.75 percent for “some time to come”, with the risks of either cuts or increases evenly balanced.
Unemployment and underemployment continued to fall in the March 2018 quarter, according to quarterly labour market statistics released by Stats NZ today. The unemployment rate is now 4.4 percent, the lowest since the December 2008 quarter. This represents a decrease of 0.1 percent from the previous quarter and an annual decrease of 0.5 percent.
Finance Minister Grant Robertson expects new Reserve Bank Governor Adrian Orr to review the bank's modelling that currently shows unemployment cannot go any lower without generating an inflation surge. Bernard Hickey reports.
Employment grew more than expected and unemployment fell more than expected in the December quarter, despite lower business confidence and fears by some that the economy slowed during and after the election.
In the last set of jobs figures before the election, Statistics New Zealand has reported surprisingly weak jobs growth and still-subdued wage growth in the June quarter.
For the benefit of subscribers, here's my Summer Newsroom column about what Trump might mean for the back pockets of kiwis.