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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news