WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
“Confidence amongst employees working in the public sector has risen considerably this quarter, up 12.9 points to 128.1. In contrast, private sector employees have seen a much smaller rise in confidence (106.00 ECI, an increase of 4.0 points from December 2021),” observed Imogen Rendall, Market Research Director of McDermott Miller Limited. “Private sector employees remain concerned about their personal job security over the coming year as well as future job opportunities while public sector employees are buoyant with a very positive view of both their current employment conditions and their expectations for the future,” commented Ms Rendall.
23 March 2022
For further information contact:
Imogen Rendall – Market Research Director,
McDermott Miller Limited
Phone: +44 7843 096 788
The Index is based on survey results of a representative sample of 1559 New Zealand households interviewed during 1-17 March 2022. 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.