State of the NZ Labour Market
|
|
- Jodie Austin
- 5 years ago
- Views:
Transcription
1 Mid-March 211 Labour Market Slowly Tightening Up Welcome to the first edition of our new monthly publication looking at the state of the labour market in New Zealand and where we expect things to go. We commence by looking at the state of the labour market in terms of official data released by various NZ government agencies starting with Statistics New Zealand. Every three months Statistics NZ survey 15, people asking them whether they have a job and what industry it is in, whether they want a job, and so on. The results are released in the Household Labour Force Survey and this is what the data for the December quarter released in the first week of February told us. In the past ten year s NZ s unemployment rate has averaged 4.8%, it hit a quarter of a century low of 3.5% in 27 and now stands at 6.8% having come down only a bit from 7% reached in 29 as the economy was struggling to recover from the 28 recession and the 28/9 global financial crisis. In contrast the UK unemployment rate has averaged 5.8% and Australia s 5.4% over the past ten years % UNEMPLOYMENT RATES United Kingdom New Zealand Australia 1.. Sources" Statistics NZ, ABS, ONS In New Zealand the unemployment rate has traditionally been lowest in the most southern and northern parts of the South Island Southland and Nelson etc., and highest in the far north and east of the North Island Northland and Bay of Plenty / Gisborne / Hawkes Bay Region Latest Ten Year Average Northland Auckland Waikato Bay of Plenty Gisborne/Hawkes Bay Taranaki Manawatu-Wanganui Wellington Tasman Nelson etc Canterbury Otago Southland NZ (all data not seasonally adjusted) Over 21 employment in New Zealand grew by 1.3% but with a.5% fall in the December quarter following 1.1% growth in the September quarter. The key point to note here is that the survey released by Statistics NZ tends to produce a lot of volatility from quarter to quarter for no obvious reason and we suggest averaging over at least two quarters to truly see what is happening. Page 1
2 Doing that we see that the labour market is improving with that conclusion validated by a separate measure of hours worked in the quarter improving.3% in the September quarter and.2% in the December quarter. The graph here shows average employment growth over four quarters and illustrates the decline caused by the extended recession then the relatively muted recovery % NZ JOBS GROWTH Four quarter average Source: Statistics NZ Over 21 in Australia job numbers grew by 3.3% and in the United Kingdom employment grew 1.1%. We used the term muted recovery above to describe the improvement in the NZ labour market. But this may erroneously suggest the labour market is quite weak. In fact over 21 while part-time employment fell 2.4% full-time job numbers rose 2.4%, illustrating that employers have been confident enough to reverse the recession trend of changing people from full-time to part-time work. In terms of the industries in which the recovery in jobs growth has been most noted the leader is utilities (electricity etc.) though this sector accounts for only.5% of jobs. Manufacturing has had a strong recovery as has the health sector. Year ago % all % change NZ Jobs Electricity, Gas and Water Supply Manufacturing Other Services Health and Community Services Accommodation, Cafes and Restaurants Construction Total All Industries Agriculture, Forestry and Fishing Wholesale and Retail Trade Property and Business Services Education Communication Services Mining Transport and Storage Finance and Insurance Not Specified Labour Market Tightness With the unemployment rate just below an 11 year high at 6.8% one would not expect the labour market to be tight. Yet it is slowly tightening up even though by historical measures things are still relatively loose in aggregate. The main measure comes from the NZ Institute of Economic Research s Quarterly Survey of Business Opinion. Respondents are asked whether they find skilled and unskilled labour hard or easy to find. On average over the past ten years a net 26% of respondents have said they find skilled labour hard to Page 2
3 find (net means positives less negatives so neutral = ). The latest reading is a net 7% finding it hard to get the skilled people they want. That is well away from 26% so the skilled labour market is loose. But the interesting thing is that over the past year when the economy has grown only just above 1% this measure has nonetheless moved to a net 7% tight from a net 42% easy in the middle of 29. That is quite a significant and rapid change Net % EASE OF FINDING LABOUR Things easy Unskilled -2 Skilled -4-6 Things hard Source:NZIER We find the same for unskilled labour where the ten year average is a net 5% saying they find it hard to get unskilled labour but the latest reading being a net 19% saying they find things easy. In mid-29 this reading was a net 68% saying it was easy to find unskilled staff. So, unemployment remains high, the labour market is relatively loose but tightening, and job growth so far quite tentative. So what lies ahead? A starting point for answering this question is to look at business employment intentions revealed in opinion surveys. The NZIER survey above showed that in the December quarter a net 4% of respondents said they plan taking on more staff. This was only just below the 5% long term average and up from 2% a year earlier Net % positive EMPLOYMENT INTENTIONS 1 year average -3 Source:NZIER Source:NBNZ EMPLOYMENT INTENTIONS - NEXT 12 MONTHS Net % positive Long term average - latest month In addition, a monthly survey by National Bank found in early February that a net 8% of businesses planned hiring more people which is twice the long run average of a net 4%. This survey revealed the breakdown by industry as follows. Net % positive Employment Intentions Latest Average All Retail Manufacturing Agriculture Construction Services Page 3
4 In the retailing sector although employment intentions are low they are usually negative anyway so that result is not as weak as it looks. For construction however things are weak with a number of large projects being completed, rising office vacancy rates, and falling demand for new houses. Not so in agriculture however where prices are at record levels, weather conditions have been good recently, and the NZ dollar has even lost some ground in recent months against the US dollar and Japanese Yen. But agriculture makes up only 7% of employment in NZ versus 8% for construction, 12% for manufacturing, (where demand is strong), and 17% in retail trade including wholesaling. Intentions are one thing, and they seem to be positive, but are hiring plans being put into action? We can measure that by looking at job advertisements and there is only one good up to date job ad survey in New Zealand the Department of Labour Jobs Online Monthly Report. In February their trend estimate of job ad numbers rose 1% with 1.4% growth for skilled jobs. The number of ads was 3% above a year earlier or 33% for skilled ads. Growth is strong. 4 ONLINE JOB ADVERTISING Index level RHS Source: NZ Dept. of Labour Month % change LHS 7 A J O 8 A J O 9 A J O 1 A J O 11 2 By large region strongest advertising growth is occurring by far in Auckland and parts of the South Island outside of Christchurch though this latter change looks like a catch-up as growth on a year ago is only 13.1%. Note that we can see evidence of the way in which the February 22 earthquake in Christchurch has for now understandably cut employer willingness to hire. This so far is the only partial measure of the labour market impact of the latest earthquake. Month Year ago Change Growth Auckland 2.% 42.7% Wellington NI Other Christchurch SI Other All NZ Looking at growth in broadly defined occupational groups we have the following. Again these are trend estimates so changes from month to month are heavily smoothed. Month Year ago Change Growth Managers 1.6% 3.6% Professionals Technicians & trades workers Growth is strong for all occupational types though with some extra strength evident for technicians and tradespeople which is consistent with much anecdotal feedback of growing shortages and worries about availability of labour for rebuilding Christchurch over Page 4
5 Broken down by industry we get the following table again showing the latest monthly change and growth in job ad numbers from a year ago. Demand for Information Technology staff is growing very strongly, followed by the miscellaneous Other category (not very useful that), then Hospitality & Tourism. That latter growth is interesting given that the hospitality sector is being restrained by tight consumer control of discretionary spending, and tourism was suffering even before the two Christchurch earthquakes and now faces bleak conditions with a temporary rugby-related reprieve later this year. Month Year ago Change Growth Accounting, human resources, legal & admin..3% 15.% Construction & engineering Other Healthcare & medical Hospitality & tourism Education & training Sales, retail, marketing & advertising Information technology What we conclude from our first issue of the State of the NZ Labour Market is that mild jobs growth is occurring and employers are continuing to look for staff though with some caution as evidenced by the slowing monthly trend change in job advertising. We can see that the February 22 earthquake has dented hiring by Christchurch employers which is understandable given the at least one-third destruction of the CBD and massive staff, water, sewerage and electricity disruption for other businesses in the city. It is likely that the monthly reports for March will show weakness in business hiring intentions given that we already know business sentiment has weakened to a net 21% pessimistic in our post-earthquake survey from a net 22% optimistic beforehand. That weakness will be aggravated for an uncertain period of time by the earthquake and more recently by the events in Japan if not events also in the Middle East BNZ CONFIDENCE SURVEY Net % expecting the economy to be better in the next 12 months However we expect to see employer demand for staff picking up again from the September quarter at the latest and anticipate that labour market conditions will become relatively tight over 212, taking the unemployment rate down toward 5% come 213. This will be especially so in the construction sector as rebuilding of Christchurch will commence and coincide with a natural recovery in nationwide house construction from near four decade lows. Our optimism with regard to future demand is partly due to the comments submitted by respondents in the recruitment sector in our March BNZ Confidence Survey (conducted online March 3-4). To whit Industry: Employment Advertising/Marketing. Slow growth across the past 3 months (mirroring activity and volumes of 21), with a negative impact expected on recruitment activity following the Christchurch Earthquake. Some concern over migration numbers in/around RWC211 due to perception issues. Page 5
6 Recruitment still slow as small to medium size companies keep their recruiting in-house to save money. HR - Employment Relations. Very busy - February 15% up on last year and that was a reasonable month. Busy since November and March looking good - very different to the patchiness of last year. Don't know what impact Christchurch will have on us. Mix of matters - long term confident work - companies dealing with wider matters not just issues that have arisen and must be dealt with. Exec recruitment. very busy before quake but not sure yet what impact quake will have, particularly on fragile confidence. Recruitment for the IT industry. Things have got off to a slow start to the year but most of our clients are gearing up for growth having trimmed back significantly during the GFC. My industry sector is in Recruitment and as General Manager I'm responsible for all divisions. At present we're starting to experience increased job flow in the professionals sector including IT, Accounting Banking & Finance, Sales and Marketing and Legal. This is also supported by an increase in Business Support positions. This increase is being felt nationwide with our organisation. Senior contracting is still a little sluggish however permanent roles seems to be where the increase is being seen. The Christchurch earthquake has had a minimal effect on other areas although many organisations are focusing on this area as a matter of urgency to ensure staff are safe and sound. It's likely that the contracting market will see an increase in focus in the coming months as it becomes a more candidate driven market meaning that permanent staff are becoming more scarce. Executive recruitment. opportunities for candidates - slight yet incremental improvement this calendar year. Many (passive) candidates ready to move once positions open up further. We have seen a sharp increase in the number of temporary and permanent roles being listed- it definitely feels a lot more positive and candidates appear to be feeling confident to seek new employment opportunities. My industry is Employment Services: Staff turnover (churn) is increasing as employees look to earn more money by changing jobs or emigrating to Australia. In the next issue of this report we will examine any updated official data and include more information on where shortages have been identified in the New Zealand labour market. Tony Alexander, Chief Economist, Bank of New Zealand , tony.alexander@bnz.co.nz, This publication has been provided for general information only. Although every effort has been made to ensure this publication is accurate the contents should not be relied upon or used as a basis for entering into any products described in this publication. BNZ strongly recommends that readers seek independent legal/financial advice prior to acting in relation to any of the matters discussed in this publication. Neither the Bank of New Zealand nor any person involved in this publication accepts any liability for any loss or damage whatsoever that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this publication. Page 6
BNZ-Nine Rewards Consumer Trends Survey
BNZ-Nine Rewards Consumer Trends Survey 6 September 2013 ISSN 2324-4321 Mission Statement To help Kiwi businesspeople and householders make informed financial decisions by discussing the economy in a language
More informationBNZ Weekly Overview ISSN
BNZ Weekly Overview ISSN 2463-4328 16 March 2017 Mission Statement To help Kiwi businesspeople and householders make informed financial decisions by discussing the economy and its implications in a language
More informationExecutive Summary MINISTRY OF BUSINESS, INNOVATION & EMPLOYMENT MĀORI IN THE LABOUR MARKET
Executive Summary in the Labour Market presents key labour market information from 2009 to 2014 from the Household Labour Force Survey (HLFS) for both at a national and regional level. The key findings
More informationFrom the economist. Quick quarterly statistics
Issue 17 tember 217 In this issue Quick quarterly statistics page 1 Economic activity quarterly page 2 Employment quarterly page 3 Household welfare quarterly page 4 Tourism activity annual page 5 Spotlight
More informationBNZ Weekly Overview ISSN
BNZ Weekly Overview ISSN 2463-4328 5 May 2016 Mission Statement To help Kiwi businesspeople and householders make informed financial decisions by discussing the economy and its implications in a language
More informationFigure 1: Job ads and employment intentions. Figure 2: Job ads and the unemployment rate
ANZ RESEARCH Data for August 1, released September 1 CONTACTS Liz Kendall Senior Economist Telephone: + 199 Email: Elizabeth.Kendall@anz.com The next release of ANZ Job Ads is scheduled for release on
More informationQuarterly Labour Market Report. December 2016
Quarterly Labour Market Report December 2016 MB13809 Dec 2016 Ministry of Business, Innovation and Employment (MBIE) Hikina Whakatutuki - Lifting to make successful MBIE develops and delivers policy, services,
More informationSlow progress. Westpac McDermott Miller Employment Confidence Index, March March 2018
Slow progress Westpac McDermott Miller Employment Confidence, March 18 29 March 18 The Westpac McDermott Miller Employment Confidence rose two points in March to 11.9, its highest level since 8. Perceptions
More informationHEALTHY DEGREE OF CAUTION. Figure 1: Job ads and the unemployment rate
ANZ RESEARCH Data for July, released August CONTACTS Liz Kendall Senior Economist Telephone: + 99 Email: Elizabeth.Kendall@anz.com The next release of ANZ Job Ads is scheduled for release on September
More informationANZ New Zealand Job Ads
ANZ Research ANZ New Zealand Job Ads 9 January 9 This is not personal advice. It does not consider your objectives or circumstances. Please refer to the Important Notice. CONTACT: Liz Kendall Senior Economist
More informationANZ New Zealand Job Ads
ANZ Research ANZ New Zealand Job Ads December 8 This is not personal advice. It does not consider your objectives or circumstances. Please refer to the Important Notice. Playing catch up Summary ANZ Job
More informationQuarterly Labour Market Report. May 2015
Quarterly Labour Market Report May 2015 MB13090_1228 May 2015 Ministry of Business, Innovation and Employment (MBIE) Hikina Whakatutuki - Lifting to make successful MBIE develops and delivers policy, services,
More informationJubilant July. BNZ - BusinessNZ PSI for July 2013
Jubilant BNZ - BusinessNZ PSI for The seasonally adjusted BNZ - BusinessNZ Performance of Service Index (PSI) for stood at 58.1. This was up 3 points from June, and the highest level of activity since
More informationMYOB Business Monitor special Christchurch report Highlights. Business Issues. Earthquake Issues. June 2011 Page 1 of 19
MYOB Business Monitor special Christchurch report Highlights Business Issues Fall in confidence for the recovery of New Zealand economy Canterbury businesses reflect a similar sentiment to businesses in
More informationMinistry of Economic Development SMEs in New Zealand: Structure and Dynamics
Ministry of Economic Development 27 SMEs in New Zealand: Structure and Dynamics July 27 1 Contents List of Graphs and Tables...3 Overview...5 Defining Small and Medium-Sized Enterprises...6 Employment
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 1 4 J U N E 2 0 1 7 REINZ Real Estate Institute of New Zealand NZ house prices still increasing, led by strong regional growth National median house prices increased 6.7% to $540,100
More informationMore jobs, but what about wages?
More jobs, but what about wages? Westpac McDermott Miller Employment Confidence, September 17 27 September 17 New Zealanders have become increasingly upbeat about their employment prospects. However, they
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 1 2 M AY 2 0 1 7 REINZ Real Estate Institute of New Zealand After record national median prices in March, prices are stable and sales volumes fell across New Zealand during April
More informationRUNNING OUT OF PUFF. Figure 1. ANZ job ads and the unemployment rate
ANZ RESEARCH Data for December 217, released 11 January 218 CONTACTS Sharon Zollner Chief Economist Telephone: +64 9 37 494 E-mail: Sharon.Zollner@anz.com The next release of ANZ Job Ads is scheduled for
More informationSwings and roundabouts
Swings and roundabouts Westpac-McDermott Miller Regional Economic Confidence, December 217 quarter 19 January 218 Economic confidence rose in six regions in the December quarter. However, it was down in
More informationA Mixed Bag. Westpac-McDermott Miller Regional Economic Confidence, June 2018 quarter. Paul Clark, Industry Economist
A Mixed Bag Westpac-McDermott Miller Regional Economic Confidence, June 218 quarter Paul Clark, Industry Economist +64 9 336 5656 Six of eleven regions posted an improvement in regional economic confidence.
More informationGrant Spencer: Trends in the New Zealand housing market
Grant Spencer: Trends in the New Zealand housing market Speech by Mr Grant Spencer, Deputy Governor and Head of Financial Stability of the Reserve Bank of New Zealand, to the Property Council of New Zealand,
More informationQuarterly Labour Market Report. September 2016
Quarterly Labour Market Report September 2016 MB13809 Sept 2016 Ministry of Business, Innovation and Employment (MBIE) Hikina Whakatutuki - Lifting to make successful MBIE develops and delivers policy,
More informationWhat's really happening to house prices. November How big is the fall (so far)?
November 2017 David Norman Chief Economist david.norman@aucklandcouncil.govt.nz 021 516 103 What's really happening to house prices Once we account for these seasonal effects, prices have fallen around
More informationQ2 Regional Economic Confidence Economic confidence declines in most regions
24 June 14 Q2 Regional Economic Confidence Economic confidence declines in most regions Regional economic confidence remains in optimistic territory throughout New Zealand. However the degree of optimism
More informationQuarterly Economic Monitor
Overview of Quarterly Economic Monitor December 214 Queenstown s economy boomed during 214, with ' provisional estimate of GDP showing that the Queenstown-Lakes District economy grew by 4.5% over the year
More informationFigure 1: Job ads growth and ANZ Business Outlook hiring intentions Job ads (LHS) Hiring intentions (RHS) Activity outlook (RHS)
ANZ RESEARCH Data for May, released June CONTACTS Liz Kendall Senior Economist Telephone: + 99 Email: Elizabeth.Kendall@anz.com The next release of ANZ Job Ads is scheduled for release on July at am. GOING
More informationBACK TO TREND. Figure 1. ANZ job ads and the unemployment rate. 5.0 Number (000's)
ANZ RESEARCH Data for February 18, released 1 March 18 CONTACTS Kyle Uerata Economic Statistician Telephone: +6 8 37 E-mail: Kyle.Uerata@anz.com The next release of ANZ Job Ads is scheduled for release
More informationSocial cost of road crashes and injuries 2016 update. March 2017
Social cost of road crashes and injuries 2016 update March 2017 Technical queries and comments on this report should be referred to: Financial, Economic and Statistical Analysis Team Ministry of Transport
More informationThe Social Cost of Road Crashes and Injuries 2013 update
The Social Cost of Road Crashes and Injuries 2013 update ANNUAL UPDATE NOVEMBER 2013 Prepared by Financial, Economic and Statistical Analysis Team, Ministry of Transport ISSN 1173-1370 Technical queries
More informationQuarterly Labour Market Report. February 2015
Quarterly Labour Market Report February 2015 MB13090_1228 March 2015 Ministry of Business, Innovation and Employment (MBIE) Hikina Whakatutuki - Lifting to make successful MBIE develops and delivers policy,
More informationSocial cost of road crashes and injuries 2015 update. March 2016
Social cost of road crashes and injuries 2015 update March 2016 Technical queries and comments on this report should be referred to: Financial, Economic and Statistical Analysis Team Ministry of Transport
More informationSpring step. BNZ - BusinessNZ PSI for September 2013
BNZ-BusinessNZ PSI is a monthly survey of the services sector providing an early indicator of activity levels. A PSI reading above 5 points indicates services activity is expanding; below 5 indicates it
More informationSocial cost of road crashes and injuries 2017 update. December 2017
Social cost of road crashes and injuries 2017 update December 2017 Technical queries and comments on this report should be referred to: Domain Strategy, Economics and Evaluation Ministry of Transport PO
More informationQuarterly Economic Monitor
Overview of Quarterly Economic Monitor September is in good shape. provisional estimate for GDP showed growth of 3.% in the September year. That was above the national average of 2.5% and continued an
More informationOmoniyi Alimi with Dave Maré and Jacques Poot
ANZ Conference Presentation 28 th June 2013 Revisiting Income Inequality Between and Within New Zealand s Regions: Analysis of 1981-2006 Census Data Omoniyi Alimi with Dave Maré and Jacques Poot Sponsored
More informationREMUNERATION SURVEY 2017 SNAPSHOT
REMUNERATION SURVEY 2017 SNAPSHOT THIS YEAR, MORE THAN 3,100 MEMBERS FILLED IN OUR SURVEY STEADY AS WE GO While salaries are relatively static, with graduate salaries the same as last year and team leaders
More informationSA Economic Outlook. Tuesday, 23 December State Report SA
Tuesday, 2 December 2014 SA Economic Outlook Summary The South Australian economy has been through challenging times in recent years. Unfortunately, good news has remained scarce and economic growth has
More informationBindi Norwell, REINZ CEO
REINZ Real Estate Institute of New Zealand April 2017 This month the Real Estate Institute are pleased to launch the REINZ House Price Index (HPI). Developed in partnership with the Reserve Bank of New
More informationContinued expansion. Inside BNZ Commentary this Month (page 4) BNZ - BusinessNZ PSI for February 2015
an early indicator of activity levels. A PSI reading above points indicates services activity is expanding; below indicates it is contracting. Continued expansion BNZ - BusinessNZ PSI for ruary The seasonally
More informationANZ New Zealand Job Ads
ANZ Research ANZ New Zealand Job Ads November This is not personal advice. It does not consider your objectives or circumstances. Please refer to the Important Notice. CONTACT: Liz Kendall Senior Economist
More informationLooking for a new job?
Looking for a new job? Westpac McDermott Miller Employment Confidence, December 17 16 January 18 Employment Confidence Indices Dec-17 Sep-17 Change Employment Confidence 113.9 113.8.1 Present Conditions
More informationECONOMY WATCH. NZ Construction Outlook RESEARCH. 2 November bnz.co.nz/research Page 1
RESEARCH ECONOMY WATCH November 1 NZ Construction Outlook Construction is a key driver of ongoing GDP growth We forecast residential construction expanding.% per annum over the medium term Non-residential
More informationSTILL CLIMBING. Figure 1. ANZ job ads and the unemployment rate
ANZ RESEARCH Data for January 18, released 1 February 18 CONTACTS Kyle Uerata Economic Statistician Telephone: +64 4 82 237 E-mail: Kyle.Uerata@anz.com STILL CLIMBING SUMMARY ANZ job ads rose 3.1% m/m
More informationHappiness of New Zealand
UMR Omnibus Results January 2012 Happiness of New Zealand Email: umr@umr.co.nz WELLINGTON 3 Collina Terrace Thorndon WELLINGTON 6011 NEW ZEALAND Tel: +64 4 473 1061 Fax: +64 4 472 3501 Website: www.umr.co.nz
More informationRESTAURANT OUTLOOK SURVEY
Reference Period: 2016 RESTAURANT OUTLOOK SURVEY Prepared by Chris Elliott, Senior Economist January 23, 2017 Q2-2011 Q3-2011 Q4-2011 Q1-2012 Q2-2012 Q3-2012 Q4-2012 Q1-2013 Q2-2013 Q3-2013 Q4-2013 Q1-2014
More informationSporadic. Housing Prospects. the major factors to consider plus a few hangerson in no particular order of importance.
25 January 2018 Housing Prospects Welcome to 2018. I ve ceased publishing the Weekly Overview and brought back the previously well received 2015 publication Sporadic. This change has been driven by the
More informationMYOB Business Monitor. November The voice of New Zealand s business owners. myob.co.nz
MYOB Business Monitor The voice of New Zealand s business owners November 2009 myob.co.nz Quick Link Summary Just over half (55%) of New Zealand s business owners surveyed expect that the economy will
More informationForewarned is forearmed 3 August 2015
Forewarned is forearmed August What will happen to Canterbury s labour force as the rebuild winds down? The Canterbury rebuild has peaked. Demand for construction workers in Canterbury is expected to fall
More informationWorkers in demand. Westpac McDermott Miller Employment Confidence Index, December Michael Gordon, Senior Economist
Workers in demand Westpac McDermott Miller Employment Confidence, December 18 Michael Gordon, Senior Economist +64 9 336 67 Confidence in the labour market rose strongly in December, reaching its highest
More informationGrant Spencer: Update on the New Zealand housing market
Grant Spencer: Update on the New Zealand housing market Speech by Mr Grant Spencer, Deputy Governor and Head of Financial Stability of the Reserve Bank of New Zealand, to Admirals Breakfast Club, Auckland,
More informationSMEs in New Zealand: Structure and Dynamics 2011
SMEs in New Zealand: Structure and Dynamics 2011 Ministry of Economic Development September 2011 ISSN 1178-3281 Contents List of Commonly Used Abbreviations...2 Part 1: Overview...3 Introduction...3 Layout
More informationCapacity Constrained!
Capacity Constrained! Fiscal stimulus to boost growth But capacity constraints are binding Lack of land, labour, physical capacity and finance will strangle growth And, potentially, raise inflation We
More information4 Regional forecast Auckland Canterbury Waikato/Bay of Plenty Wellington Rest of New Zealand...
Page 2 of 66 Table of Contents Table of Contents... 1 I Table of Figures and Tables... 5 1 Introduction... 7 1.1 Overview... 7 1.2 Background... 7 1.3 Purpose and content... 7 1.4 Information presented
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 17 JULY 218 REINZ - Real Estate Institute of New Zealand Inc. WINTER CHILL IMPACTS REAL ESTATE SALES VOLUMES, BUT NOT HOUSE PRICES BINDI NORWELL, REINZ CEO The winter chill has
More informationMYOB New Zealand Economic & Business Issues Monitor September Highlights
MYOB New Zealand Economic & Business Issues Monitor - Highlights Confidence in near term New Zealand economic recovery still compressed Most New Zealand business owners are still pessimistic about economic
More informationMYOB Business Monitor. The voice of New Zealand s business owners. > August myob.co.nz
MYOB Business Monitor The voice of New Zealand s business owners > August 2010 myob.co.nz New Zealand Highlights First major resurgence in New Zealand business revenue since the GFC Making business life
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 15 SEPTEMBER 217 REINZ - Real Estate Institute of New Zealand Inc. 47 less residential properties sold each day in August, but residential prices increase Not a single region in
More informationPhilip Lowe: Changing relative prices and the structure of the Australian economy
Philip Lowe: Changing relative prices and the structure of the Australian economy Address by Mr Philip Lowe, Assistant Governor of the Reserve Bank of Australia, to the Australian Industry Group 11th Annual
More informationAUSTRALIAN INDUSTRY DATA SUMMARY
ECONOMICS & MARKETS RESEARCH Australian industry data summary December 9 / of AUSTRALIAN INDUSTRY DATA SUMMARY DECEMBER 9 DATA FOR THE SEPTEMBER QUARTER 9 Australia s economy grew by.% in Q 9 (.% p.a.),
More informationWe continue to expect a modest pick-up in wage growth. Figure 1. ANZ job ads and the unemployment rate
ANZ RESEARCH Data for September 17, released 4 October 17 CONTACTS Sharon Zollner Senior Economist Telephone: +64 9 37 94 E-mail: sharon.zollner@anz.com PLATEAU SUMMARY ANZ job ads lifted.4% m/m in September
More informationBNZ Weekly Overview ISSN
BNZ Weekly Overview ISSN 2463-4328 12 May 2016 Mission Statement To help Kiwi businesspeople and householders make informed financial decisions by discussing the economy and its implications in a language
More informationThe Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% to in
Media release 11 October 2017 Strict Embargo 10:30am Consumer sentiment lifts The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% to 101.4 in October from 97.9 in September. Westpac s
More informationSteady on. Westpac McDermott Miller Regional Economic Confidence, March Quarter March 2017
Steady on Westpac McDermott Miller Regional Economic Confidence, March Quarter 217 28 March 217 Regional economic confidence declined in most parts of New Zealand in the March quarter. But following strong
More informationBusiness Trends Report
Business Trends Report June 2014 Introduction The Bankwest Business Trends Report tracks working trends for people that run a business either as an employer or as an own account worker. The report looks
More informationBNZ - BUSINESSNZ PERFORMANCE OF MANUFACTURING INDEX
BNZ - BUSINESSNZ PERFORMANCE OF MANUFACTURING INDEX -1.5 expanding July Value Monthly Change Slower rate Downward trend 10 August New Zealand s manufacturing expansion continued its downward trend, according
More informationVictorian Economic Outlook
Wednesday, 9 May Victorian Economic Outlook Summary The Victorian economy has been through difficult conditions over the past few years. Victoria s key sectors, manufacturing, education and tourism are
More informationKiwibank Limited. Covered Bond Programme Investor Report as at 28 Feb 2014
Issuer Fitch Moody's Long Term Unsecured Rating AA+/AA Aa3 Secured Rating () AAA Aaa Sovereign Rating AA+/AA Aaa Legal Bullet Amount Covered Bonds Outstanding ISIN Ratings (F/M) Issue Date Maturity Date
More informationKiwibank Limited. Covered Bond Programme Investor Report as at 31 Jul 2014
Issuer Fitch Moody's Long Term Unsecured Rating AA+/AA Aa3 Secured Rating () AAA Aaa Sovereign Rating AA+/AA Aaa Covered Bonds Outstanding ISIN Ratings (F/M) Issue Date Maturity Date Type Currency Outstanding
More informationKiwibank Limited. Covered Bond Programme Investor Report as at 31 October 2013
Issuer Fitch Moody's Long Term Unsecured Rating AA+/AA Aa3 Secured Rating () AAA Aaa Sovereign Rating AA+/AA Aaa Covered Bonds Outstanding ISIN Ratings (F/M) Issue Date Legal Maturity Date Bullet Type
More informationServices sector: slow start to 2019 as sales drop
January 2019 Media Contact: Tony Melville, Australian Industry Group. 0419 190 347 Services sector: slow start to 2019 as sales drop The Australian Industry Group Australian Performance of Services Index
More informationDEVELOPMENTS IN THE WHOLESALE AND RETAIL SECTOR
DEVELOPMENTS IN THE WHOLESALE AND RETAIL SECTOR Article published in the Quarterly Review 219:1, pp. 22-31 BOX 1: DEVELOPMENTS IN THE WHOLESALE AND RETAIL SECTOR 1 The wholesale and retail sectors are
More informationMonthly Bulletin of Economic Trends: Review of the Australian Economy
MELBOURNE INSTITUTE Applied Economic & Social Research Monthly Bulletin of Economic Trends: Review of the Australian Economy March 2018 Released on 22 March 2018 Outlook for Australia 1 Economic Activity
More informationA brave new world. CDANZ 9 May Shamubeel Eaqub, CFA fb.me/seaqub
A brave new world CDANZ 9 May 2018 Shamubeel Eaqub, CFA 021 573 218 @Seaqub fb.me/seaqub shamubeel@sense.partners A brave new world A rapidly changing world Economy, jobs Demographics Why it matters: Careers
More informationREINZ - Real Estate Institute of New Zealand Inc. MONTHLY PROPERTY REPORT.
REINZ - Real Estate Institute of New Zealand Inc. MONTHLY PROPERTY REPORT. 13 MARCH 219 NUMBER OF HOUSES SOLD ACROSS NZ FALLS BY 9.5% IN FEBRUARY BINDI NORWELL, REINZ CEO The number of residential properties
More informationNEW ZEALAND BUSINESS BENCHMARKING SURVEY - QUESTIONNAIRE ITEMS
NEW ZEALAND BUSINESS BENCHMARKING SURVEY - QUESTIONNAIRE ITEMS Numeric values are assigned to each of the demographic question options below to use when importing/submitting client data. These values are
More informationANZ Investor Day Auckland, New Zealand
ANZ Investor Day Auckland, New Zealand AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED Thursday, June 15 New Zealand Economics Update Cam Bagrie CHIEF ECONOMIST, NEW ZEALAND NZ Economic Update The economy
More informationVictorian Economic Outlook
Thursday, November 1 Victorian Economic Outlook Summary The Victorian economy has been through difficult conditions over the past few years. GSP grew by.% in 11-1, easing from growth of.7% in 1-11, and
More informationProperty Focus New Zealand
Property Focus New Zealand September 7 The turn Contacts: Cameron Bagrie Chief Economist Telephone: +64 4 82 2212 Facsimile: +64 4 496 8639 E-mail: bagriec@anz.com Summary > The monthly Property Focus
More informationADVISERS ON BANKS 2016
SPECIAL REPORT ADVISERS ON BANKS 2016 The results of NZ Adviser s inaugural Advisers on Banks survey are in. We reveal which banks topped the rankings and what advisers think about commission, turnaround
More informationUK BUSINESS CONFIDENCE MONITOR Q3 2013
UK BUSINESS CONFIDENCE MONITOR 213 BUSINESS WITH CONFIDENCE WELCOME Businesses are feeling at their most confident since Q2 21, with that confidence yet again registering across all sectors and all regions.
More informationFuture Business Index Update. March 2014
Future Business Index Update March 2014 02 Contents A focus on the future 03 Economic perspective 04 Optimism remains strong 05 States and industries 06 Amid patchy growth, conditions are set to stay unchanged
More informationQuarterly Economic Monitor
Overview of Quarterly Economic Monitor September provisional estimates of GDP show that s economy expanded by 3.9% over the 12 months to September. Economic growth is broad-based across most indicators
More informationNew Zealand Economic Outlook. Miles Workman June 2017
New Zealand Economic Outlook Miles Workman June 17 1 Economic Outlook Overview The New Zealand economy is forecast to expand at a solid pace over the next five years With real GDP growth around 3% in 17:
More informationJune SURVEY RESULTS. Collision Repairer Survey of Insurers Collision Repair Association and Motor Trade Association
June 2018 2018 SURVEY RESULTS Collision Repairer Survey of Insurers Collision Repair Association and Motor Trade Association OUR THANKS TO THOSE WHO TOOK PART IN THE 2018 COLLISION REPAIRER SURVEY OF INSURERS.
More informationQuarterly SME Survey December quarter 2012
Quarterly SME Survey December quarter 212 SME confidence & conditions weaken a touch in Q4 and poor relative to history; sentiment and activity of SMEs a touch weaker than their larger counterparts. Forward
More informationTHE FAMILY TRUST. Do the right thing see your lawyer first
THE FAMILY TRUST Do the right thing see your lawyer first Contents 1. The family trust 2. Why have a family trust? 3. Who is involved? 4. How long does a trust last? 5. Who can appoint and remove trustees?
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 11 OCTOBER 218 REINZ - Real Estate Institute of New Zealand Inc. LOWEST SALES VOLUMES IN 8 MONTHS A RESULT OF EXTREMELY LOW LISTINGS IN JULY BINDI NORWELL, REINZ CEO The low number
More informationServices sector slows down as year ends
December 2018 Media Contact: Tony Melville, Australian Industry Group. 0419 190 347 Services sector slows down as year ends The Australian Industry Group Australian Performance of Services Index (Australian
More informationFuture Business Index Update
Future Business Index Update June 2014 02 Contents Investing for growth 3 Economic perspective 4 As confidence dips, the mid-market seeks new opportunities 5 States and industries 6 Seeking new opportunities
More informationEurozone. EY Eurozone Forecast September 2014
Eurozone EY Eurozone Forecast September 2014 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Outlook for
More informationLETTER. economic THE CANADA / U.S. PRODUCTIVITY GAP: THE EFFECT OF FIRM SIZE FEBRUARY Canada. United States. Interest rates.
economic LETTER FEBRUARY 2014 THE CANADA / U.S. PRODUCTIVITY GAP: THE EFFECT OF FIRM SIZE For many years now, Canada s labour productivity has been weaker than that of the United States. One of the theories
More informationTemperature Check. Westpac-McDermott Miller Regional Economic Confidence, March 2018 quarter. 26 March 2018
Temperature Check Westpac-McDermott Miller Regional Economic Confidence, March 218 quarter 26 March 218 The Westpac McDermott Miller Regional Economic Confidence rose in nine out of eleven regions in the
More informationREINZ - Real Estate Institute of New Zealand Inc. PROPERTY REPORT
REINZ - Real Estate Institute of New Zealand Inc. M O N T H LY PROPERTY REPORT 17 APRIL 218 MARCH SEES RECORD HOUSE PRICES FOR NZ DRIVEN BY REGIONS. VOLUMES DOWN YEAR- ON-YEAR BINDI NORWELL, REINZ CEO
More informationQuarterly Australian Commercial Property Survey: Q4 2013
Embargoed until: 11.3am Wednesday 6 February 14 Quarterly n Commercial Property Survey: Q4 13 Sentiment rises further in Q4, with NAB s Commercial Property reaching a -year high (but still negative overall).
More informationHUMAN RESOURCES INSTITUTE OF ALBERTA
Purpose of this Report This report is designed to be a regular tool for HR professionals in Alberta. Over the next decade Alberta companies will deal with a significant labour shortage. According to the
More informationInsolvency Statistics and Debtor Profile Report 1 JULY 2015 TO 30 JUNE 2016
Insolvency Statistics and Debtor Profile Report 1 JULY 2015 TO 30 JUNE 2016 MB12830 Contents Introduction 2 Annual Statistics 3 Key Characteristics of Debtors 11 Summary Instalment Orders 12 No Asset Procedures
More informationMONTHLY PROPERTY REPORT
MONTHLY PROPERTY REPORT 11 MAY 218 REINZ - Real Estate Institute of New Zealand Inc. REAL ESTATE INDUSTRY SEES HIGHEST ANNUAL VOLUME INCREASE IN 23 MONTHS BINDI NORWELL, REINZ CEO The number of properties
More informationOverview of the labour market
Overview of the labour market Current interest in the Scottish labour market continues to focus on the trends and patterns in the unemployment figures, in this issue, in addition to noting recent changes
More informationServices activity bounces in November
November 2018 Media Contact: Tony Melville, Australian Industry Group. 0419 190 347 Services activity bounces in November The Australian Industry Group Australian Performance of Services Index (Australian
More information