Programmed Quarterly Labour Market Insights – New Zealand Q1

Strength returns to the jobs market

There are signs of a labour market recovery in the early months of 2023, with job ads bouncing back and employer hiring intentions also on the rise.

It comes as the economy recorded a 0.6% fall in the December quarter.

Business confidence remains relatively weak but has lifted off its lows – also an indication that some strength is returning to the broader economy.

On the downside, inflation expectations remain high, suggesting that there may be more pain from central bank interest rate increases.

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