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
  • TagMeInSkipIGotThis@lemmy.nz
    3·
    6 days ago

    They’re good* for certain parts of the economy that have a huge amount of money to throw at political campaigns I guess. Real Estate, Fisheries, Oil & Gas all got what they paid for.

    *in the short term.