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Michael Gordon, senior economist at Westpac, suggests that they are expecting a small rise in the New Zealand’s unemployment rate to 4.4% in the March quarter.

Key Quotes

“Low business confidence appears to have led to a slower pace of hiring.”

“The labour market has tightened in recent years, and is close to estimates of the sustained maximum level of employment. However, the Reserve Bank would be concerned if employment trends were heading in the wrong direction.”

“We expect a modest pickup in wage growth in the March quarter. More significant government-related increases are likely to come later in the year.”