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

 

Worsening forecasts don’t help those out of work

CTU Media Release

6 September 2012

Worsening forecasts don’t help those out of work

New Ministry of Business, Innovation and Employment forecasts out today are that New Zealand’s jobless rate won’t fall below 6 percent before 2014. CTU Economist Bill Rosenberg says “these contrast strongly with forecasts used by the Government in the Budget where Treasury was forecasting 5.7% unemployment in March 2013 and 5.2% in March 2014. MoBIE is forecasting a much higher 6.2% for 2013 and 5.9% for 2014.”

“Treasury forecasts of falling unemployment have already been made redundant by the current rate of 6.8 percent. Forecasts of lower unemployment, job creation and economic growth are nothing new, and won’t happen without government actions to help bring them about. MoBIE’s new forecasts show a lack of belief that current policies are improving the unemployment situation.”

There are now over 160,000 New Zealanders unemployed, these figures continue to be alarmingly high, and will remain too high even if this forecast proves correct. We need the government to have a plan to generate jobs-led growth for our economy.

“We need the government to focus on job creation, and support New Zealand jobs through government procurement and investment. We need to boost training for workers to prepare for the Christchurch rebuild, but not rely solely on this to create jobs. We should build trains in New Zealand, retain good Government jobs, increase infrastructure projects, reinstate tertiary spending cuts and stop hoping the market will fix this.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>



Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>



Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>


Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>



ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>


Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>