NZ labour market and a sneak peek at next week’s MPS
“I was a tad apprehensive about this week’s Household Labour Force Survey (HLFS). Seemingly every day we are hearing about how grumpy the business community is and the implications for hiring and investment. The good news is that firms were still hiring, at least they were up until the end of the June quarter.
Employment growth (the key downside risk when business is in a funk) came in a tad stronger than market expectations at +0.5% over the June quarter. The annual rate of growth jumped to +3.7%, up from 3.1% in the year to June …”