Unemployment is set to hit its highest level in nearly nine years, as the lagging effects of last year's recession and the sluggish recovery hit hiring and wages.
  • Unemployment picked to hit near nine year high of 5.3 percent
  • Labour market lags economic performance, reflecting last year’s recession
  • Economy may have shed as many as 40,000 jobs in past couple of years
  • Annual wage growth seen just above 2 percent - tough on household budgets, eases inflation pressures
  • If numbers as expected, they will back another RBNZ rate cut