WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
SEPTEMBER
2021
MEDIA RELEASE
“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.
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24 September 2021
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 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.
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.