New Zealand`s Labor Market
Publish Date : 2019/08/06 - 09:25

Westpac's chief economist, Michelle Gorden, says: New Zealand's labor markets have been declining and the unemployment rate has reached its 11-year low of 3.9% in the second quarter.

"Employment growth has been declining and, surprisingly, labor market participation is low, while wage growth has been modest but fundamental growth has increased slightly," he says.

“Wage growth was boosted by this year’s large increase in the minimum wage, but underlying growth looks to have picked up a little as well.”

“Today’s results won’t stand in the way of an OCR cut tomorrow, though they reduce the risk of a follow-up move in September.”


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