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WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
MARCH
2022
MEDIA RELEASE
“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.
<ENDS
>
23 March 2022
For further information contact:
Imogen Rendall – Market Research Director,
McDermott Miller Limited
Phone: +44 7843 096 788
Email: imogenr@mcdermottmiller.co.nz
Index Background
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.
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.