The bounce in the unemployment rate in Q4 was expected and the RBNZ has previously stated that this level of slack in the labour market is consistent with employment around its maximum sustainable level, so we doubt they will be concerned. What’s more, the solid labour market combined with rising minimum wages should continue to support gradual wage growth.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.