Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ employment confidence lifts in 1st-qtr

NZ employment confidence lifts in 1st-qtr, current job opportunities seen less negative

March 31 (BusinessDesk) – New Zealand employment confidence rose in the first quarter and households became less negative about job opportunities, suggesting the labour market is starting to reflect a general upturn in the economy.

The Westpac McDermott Miller Employment Confidence Index rose to 109.4 in the first three months of 2014, from103.4 in the final quarter of 2013.

The index is now at its highest level since the global financial crisis and ensuing recession although it is still weaker than before the recession hit, according to Westpac chief economist Dominick Stephens. While households’ perceptions of current job opportunities improved to the best reading since December 2008, it is still deeply negative at a net -32 percent from -46.9 percent.

Expectations for job opportunities a year ahead were unchanged at -3.4percent, while own job security improved to 16.8 percent, the highest since September 2009, from 10 percent.

“The fruits of New Zealand’s economic upturn are increasingly becoming apparent to workers and jobseekers,” Stephens said. “Nevertheless, conditions are still markedly weaker than they were before the recession hit, and workers and job seekers remain understandably cautious about the pace of improvement.”

The survey comes after government figures last month showed New Zealand’s unemployment rate fell to a three-year low 6 percent in the fourth quarter while employment rose a faster-than-expected 1.1 percent. Jobs rose in construction, manufacturing, retailing, accommodation, hospitality, agriculture, fishing and forestry, the data showed.

The employment confidence survey showed those reporting higher earnings over the past 12 months rose 1.6 points to 29.6 percent while those seeing earnings growth in the year ahead gained 1.9 points to 31.1 percent.

The Waikato showed the biggest gain in employment confidence, rising 18.9 points to 115.2, the highest of any region. Confidence rose 9.8 points to 113.1 points in Auckland and slipped 1 point to 114 in Canterbury. Taranaki/Manawatu fell 2.1 points to 97.8 and Bay of Plenty dropped 14.7 points to 96.1, the only two regions to register below 100 in the latest survey.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news