WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
“The Westpac : McDermott Miller Employment Confidence Index for New Zealand continued to rise in the June 2018 Quarter” announced Richard Miller, Managing Director of McDermott Miller Limited. “The Index now stands at 117.4, up 3.6 index points from the March Quarter and up 7.5 points from this time last year”.
“Respondents employed in the Private Sector are more optimistic about New Zealand’s current employment situation than their Public Sector counterparts” observed Richard Miller. “In particular, more Private Sector respondents believe that ‘jobs currently are plentiful’ than do their Public Sector counterparts (Private Sector 119.2 compared with Public Sector 115.3) on the Employment Confidence Index” he concluded.
29 June 2018
Richard Miller, Managing Director
McDermott Miller Limited
Tel: 04 471 8500 Mobile: 027 451 0158
The Index is based on survey results of a representative sample of 1555 New Zealand households interviewed during 1-11 June 2018. It is made up of five component questions: (1) whether people feel that jobs are plentiful or hard to get now; (2) what job opportunities will be like in a year's time; (3) whether they are earning more or less now compared to a year ago; (4) what their earnings will be like in a year's time; and (5) how secure they feel in their present job. Questions 1 to 5 are used in the Employment Confidence Index, while questions 1 and 3 are used to calculate a Current Employment Conditions Index and questions 2, 4 and 5 are used to calculate an Employment Expectations Index.
The Index is intended to provide an indication of the level of job security amongst NZ workers and their wage expectations, and hence an insight into their willingness to spend. Over time, it is possible the Index may become a leading indicator for employment growth.
The Westpac: McDermott Miller Consumer Confidence Survey and Index is owned by McDermott Miller Limited. Westpac : McDermott Miller should be acknowledged as the source when citing the Index, just as Westpac-Melbourne Institute should be acknowledged when citing the Australian Index of Consumer Sentiment. Graphs supplied may be reproduced by the news media provided the Westpac: McDermott Miller logo remains inset.