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June 2018
WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
JUNE 2018
MEDIA RELEASE
“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.
ENDS
29
June 2018
Richard Miller, Managing
Director
McDermott Miller Limited
Tel: 04 471 8500
Mobile: 027 451 0158
Index Background
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.
Acknowledgement
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.