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NZ Q4 labor market preview: Unemployment rate expected to remain flat – ANZ

The Australia and New Zealand Banking Group (ANZ) analysts provide a sneak peek at what to expect from New Zealand’s Employment data due for release next week.

Key Quotes:

“We expect the unemployment rate held steady at 4.2% in Q4, supporting a robust household sector despite the sharp slowing in economic momentum over the second half of 2019.

Annual wage inflation is expected to come in unchanged at 2.3%.

The labour market generally lags economic activity. Given the recent improvement in the domestic outlook, the RBNZ is unlikely to be too concerned if key labour market statistics deteriorate a little in Q4.”

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