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

 


New Zealand employment confidence highest since GFC

New Zealand employment confidence highest since global financial crisis

June 30 (BusinessDesk) – Employment confidence is at its highest level in nearly six years and Auckland has overtaken Canterbury as the most confident region in the latest Westpac McDermott Miller Employment Confidence Index survey.

The index rose to 109.9 in the June quarter from 108.4 in the March quarter. The June quarter level is the highest since September 2008, when the global financial crisis was affecting sentiment. A number over 100 indicates optimists outnumber pessimists.

Still, the index remains considerably below the 135.9 peak in September 2007, a year prior to the global financial crisis.

Employment confidence was net positive for ten out of 11 regions, and Auckland overtook Canterbury as the most confident region.

“Auckland’s unemployment rate deteriorated by more than the rest of the country during the recession, and has been slow to improve since then,” Westpac chief economist Dominick Stephens said. “In that light, the latest survey suggests the region’s job market is no longer underperforming.”

Households’ perceptions of current job opportunities rose from a net minus 32 percent to minus 26.5 percent, which was the least negative reading since December 2008 and the biggest contributor to the rise in the overall index.

Respondents’ expectations for their own job security rose from a net 16.8 percent to 17.6 percent, which is the highest since September 2009.

The net percentage of people expecting a rise in earnings in the coming year rose from a net 31.1 percent to 34.2 percent but the percentage of people reporting a rise in earnings in the past year fell slightly to 28.4 percent.

The survey was conducted between June 1 and June 10, with a sample size of 1565.

The June quarter was the sixth consecutive quarter showing employment optimism.

Private sector workers are generally more optimistic than public sector workers, and this has been the case since September 2009.

“On every constituent question of the employment confidence index, private sector employees have a more positive view than their public sector counterparts,” John McDougall, director of strategy planning at McDermott Miller said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news