MIDDAY UPDATE: Employment outlook dims

Mon, 29 Jun 2015

By Paul McBeth June 29 (BusinessDesk) - New Zealanders are losing their optimism about the state of the labour market as wages look set to remain stagnant. The Westpac McDermott Miller employment confidence index fell 5.7 points to 102.8 in the June quarter, the lowest level in two years. The present conditions index dropped 6.8 points to 96.1 and the employment expectations index declined 5 points to 107.3. New Zealand wages growth has been restrained by a surge in net migration where new migrants and returning expats have expanded th...

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