Beyond the headlines: Jobs data points to a divided NZ

The greatest challenge of rising unemployment will be the pressure it puts on an already divided society and economy. (Image: Depositphotos)

Cameron Bagrie

Tue, 07 May 2024

There were some bad omens in the labour market statistics if we look beyond the headlines.The key focus of commentary on recent labour market figures centred on the unemployment rate rising, perhaps slightly more than expected, with further rises expected over 2024.Wage growth – one influence on inflation – moderated a tad, a consequence of capacity pressures easing in the labour market, but remains elevated and inconsistent with 2% inflation.That's all broadly in line with the Reserve Bank’s February forecast, and little...

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