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RB Needs To Take Account Of Labour Market Trends

Reserve Bank Needs To Take Account Of Labour Market Trends

“Figures out today showing a lift in the unemployed need to viewed alongside other data out this week showing that the level of wage increases is starting to taper off,” said Council of Trade Unions economist Peter Conway today.

“Although employment growth is relatively strong, these statistics confirm the CTU view that there is still room for lower interest rates as sustainable economic growth is the key issue we face - not inflation.”

Peter Conway said the increase in the overall labour force shows that there are still many people looking for work.

“Often people forget that behind the statistics there are real people,” he said.

“The fact that there are 105,000 unemployed New Zealanders shows the need for continued efforts on economic development, industry training, investment in infrastructure and other policies which will promote employment in the long run. ENDS

Lyndy McIntyre
NZ Council of Trade Unions

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