Latest news with #Westpac-McDermottMillerEmploymentConfidenceIndex
Scoop
24-06-2025
- Business
- Scoop
Westpac-McDermott Miller Employment Confidence Index, June 2025
The Westpac-McDermott Miller Employment Confidence Index rose by 0.5 points to 88.8 in the June quarter. The index remains little changed over the last year, and is close to the lows seen after the first Covid lockdown in 2020. 'A perceived lack of job opportunities remains the key concern for New Zealand households,' said Michael Gordon, Senior Economist at Westpac. 'This measure has been low, but relatively stable, over recent quarters.' 'These results are encouraging in the sense that they suggest the rise in the unemployment rate over the last couple of years may be peaking,' said Mr Gordon. 'That said, people were more pessimistic this quarter about an improvement in job prospects in the year ahead.' The survey results were mixed across regions. Southland saw the biggest improvement for the quarter and is now the most confident region. However, other dairying-intensive regions such as Waikato and Taranaki fared poorly. Among the main centres, Auckland saw a solid lift in confidence, but Wellington and Christchurch were down slightly. 'Confidence amongst employees working in the private sector has further eroded this quarter with a drop of 2.9 points down to 85.0, while public sector employees' confidence has increased 7 points up to 96.2,' noted Imogen Rendall, Market Research Director of McDermott Miller Limited. 'Public sector employees are beginning to take a more optimistic view of the availability of jobs and their personal job security over the coming year, which accounts for their increasing confidence. Private sector employees, in contrast, are taking an increasingly pessimistic view of the current job market and future job opportunities over the coming year. They continue to remain concerned for their personal job security. It will be interesting to see how this plays out over the months to come,' commented Ms Rendall. The survey was conducted over 1-12 June 2025, with a sample size of 1,550. An index number over 100 indicates that optimists outnumber pessimists. The margin of error of the survey is 2.5%.
NZ Herald
23-06-2025
- Business
- NZ Herald
Employment confidence levels remain low
By RNZ Employment confidence remains near the lows seen during the 2020 Covid-19 lockdown. The Westpac-McDermott Miller Employment Confidence Index rose by 0.5 points to 88.8 in the June quarter, and was little changed over the past year. An index number over 100 indicates optimists outnumbered
