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.”
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