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

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news