Labour market weakens | Tony’s View

Hannah Williams

The recent labour market data in New Zealand highlights a notable increase in the unemployment rate to 4.3%, indicating a halt in job growth observed in recent quarters. This rise is attributed to the tightening of monetary policy aimed at addressing inflationary pressures, contributing to heightened job insecurity and spending restraint among households. Amidst slowing wages growth and uncertain interest rate trajectories, stakeholders face significant economic challenges, shaping policy decisions and individual borrowing strategies.

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