NZ: Labour market confidence at an eight-year high - Westpac

Satish Ranchhod, Senior Economist at Westpac, suggests that the New Zealanders have become increasingly optimistic about the state of the labour market, with the Westpac McDermott Miller Employment Confidence Index rising to 112.7 in December.

Key Quotes

“That comes on the back of a solid increase last quarter, and takes employment confidence to its highest level in eight years. This has been underpinned by increases in the number of job openings as economic activity has strengthened.”

“Increases in employment confidence have been broad based, with large gains in the regions. The only area where there has been a noticeable decline in employment confidence is Canterbury.”

“Despite the improved confidence around job availability, workers remain doubtful that earnings growth will pick up over the coming year.”