September 2017
WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
27
September 2017
MEDIA RELEASE
“All regions in New
Zealand recorded optimistic scores on the Employment Confidence Index, “noted
Miller, “with Auckland (119.8), Southland (115.4), Canterbury (115.2) and Waikato
(114.9) above the New Zealand Employment Confidence Index level; and, all other
regions scoring below it (Taranaki / Manawatu / Whanganui 111.4, Northland
110.0, Bay of Plenty 109.8, Otago 108.9, Gisborne/Hawke’s Bay 105.7, Nelson /
Marlborough / West Coast 104.7).
Surprisingly, Wellington region currently is the least optimistic region
in New Zealand on 102.8.”
Once again, the
confidence of private sector employees slipped a little, but remains optimistic
on an ECI score of 115.9. In contrast, public
sector employees are relatively less optimistic, with an ECI score of 107.8”
stated Miller. “This may caste some
light on the relatively low level of employment confidence in Wellington
region” suggested Richard Miller.
ENDS
27
September 2017
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 1553 New Zealand
households interviewed during 1-10 September 2017. 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.