The Australia and New Zealand Banking Group (ANZ) analysts provide a sneak peek at what to expect from New Zealand’s Employment data due for release next week.
“We expect the unemployment rate held steady at 4.2% in Q4, supporting a robust household sector despite the sharp slowing in economic momentum over the second half of 2019.
Annual wage inflation is expected to come in unchanged at 2.3%.
The labour market generally lags economic activity. Given the recent improvement in the domestic outlook, the RBNZ is unlikely to be too concerned if key labour market statistics deteriorate a little in Q4.”