New Zealand Employment Confidence Index Sinks 12.5 Points to 83.1, Lowest Since 2004
Updated
Updated · Westpac IQ · Jun 21
New Zealand Employment Confidence Index Sinks 12.5 Points to 83.1, Lowest Since 2004
1 articles · Updated · Westpac IQ · Jun 21
Summary
The Westpac-McDermott Miller Employment Confidence Index dropped 12.5 points in the June quarter to 83.1, its weakest reading since the survey began in September 2004.
The fall pushed the gauge below 100, a level that signals pessimists outnumber optimists on job-market prospects.
Westpac’s survey result points to a sharply deteriorating view of employment conditions in New Zealand as households assess hiring and job security.
The record-low reading adds to evidence of labor-market weakness and could reinforce expectations of a softer economic outlook.