NZ: Labour market confidence northwards bound on continuing economic growth - Westpac

New Zealand workers have become increasingly upbeat about the state of the labour market, reflected by the June Westpac McDermott Miller Employment Confidence Index, which rose to a level of 113.4 (up from 109.9 in March), according to Satish Ranchhod, Senior Economist at Westpac.

Key Quotes

“Confidence in the state of the labour market hasn’t been this strong since 2008, before the global economy was struck by the financial crisis.”

“Strengthening employment confidence has come on the back of continuing economic growth in recent years and the related increases in the demand for labour. Workers have reported strong gains in the number of available jobs in recent years. They are also reporting increased job security, and that they expect job openings to continue growing over the coming year.”

“Employment confidence remains strongest among those earning more than $70,000 per annum. However, confidence has been firming among all income groups over the past year.”