WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
“Confidence amongst employees working in the public sector has risen this quarter, after seeing a drop the previous quarter (110.0 ECI, an increase of 6.1 points from June 2021). This compares with private sector employees whose confidence has remained almost unchanged from last quarter (a drop of 0.8 points to 104.2 ECI),” observed Imogen Rendall, Market Research Director of McDermott Miller Limited. “Concerns over job security and a more cautious view of future earnings appear to be impacting confidence of those in the private sector, while those in the public sector see the current and future job market in a more positive light,” commented Ms Rendall.
24 September 2021
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 1557 New Zealand households interviewed during 1-11 September 2021. 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.