WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
“Confidence of New Zealanders in paid work (“employees”) stabilised in the 2017 September quarter” announced Richard Miller, Managing Director of Strategy and Economics Consultancy, McDermott Miller Limited. “New Zealand-wide, the Employment Confidence Index remains firmly optimistic at 113.8” observed Miller, “but there are clear differences in sentiment among employees around the country”.
“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.
27 September 2017
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 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.
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.