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Michael Gordon, senior economist at Westpac, suggests that they expect the New Zealand’s unemployment rate to rise to 4.3% in the June quarter, reflecting the recent softening in business conditions and hiring.

Key Quotes

“We also expect some pick-up in employment and participation after they both surprisingly fell in the previous quarter.”

“Given the risk of mixed signals, we recommend focusing on the unemployment rate and the QES measure of jobs growth.”

“Wage growth is expected to accelerate, largely due to a big increase in the minimum wage.”