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Michael Gordon, senior economist at Westpac, notes that New Zealand’s Westpac McDermott Miller Employment Confidence Index was 101 in September, indicating that optimists only slightly outnumbered pessimists.

Key Quotes

“Households turned more pessimistic about conditions in the New Zealand labour market in  September.”

“Jobs were seen as difficult to find, but expectations about earnings were modestly  positive.”

“We caution against comparing the results to previous quarters, due to a change in the survey methodology.”