Press Release – New Zealand Council of Trade Unions The Council of Trade Unions is concerned that working people are continuing to bear the costs of the COVID-19 crisis. “Todays figures from Statistics New Zealand show that 54% of all working people did not receive a pay increase in the last year. …
The Council of Trade Unions is concerned that working people are continuing to bear the costs of the COVID-19 crisis.
“Today’s figures from Statistics New Zealand show that 54% of all working people did not receive a pay increase in the last year. People working in both the public and private sectors experienced wage increases as measured by the Labour Cost Index of 1.6% – which means that in real terms their wages were flat. As the economy recovers from COVID-19, we should be making sure that all working people are benefitting from that recovery,” said CTU Economist and Director of Policy Craig Renney.
(Bloomberg) New Zealand’s unemployment rate unexpectedly fell in the first quarter as the economy’s recovery boosted business confidence and hiring.
The jobless rate fell to 4.7% from 4.9% in the fourth quarter, Statistics New Zealand said Wednesday in Wellington. Economists expected 4.9%.
But the CTU is concerned at an increase in self-employed contractors.
The unemployment rate decreased from 4.9% to 4.7% in the March 2021 quarter, Statistics New Zealand has reported.
It is a continuation of a downward trend from its recent peak of 5.2% in the September 2020 quarter, which shrunk to 4.9% in the December quarter, but the figure remains high compared with pre-Covid years, Stats NZ said.
The seasonally adjusted figures for both men and women converged at 4.7%, with the male rate rising from 4.5% last quarter and the female rate falling from 5.3%.
It s still a stark improvement on Treasury’s Half-year Economic and Fiscal Update forecast unemployment rate of 6.5%.
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Jarden Brief: Dire impact of semi-conductor shortage on car industry
5 May, 2021 08:16 PM
8 minutes to read
Ford has said it will have to cut production by more than a million cars. Photo / Getty Images
Ford has said it will have to cut production by more than a million cars. Photo / Getty Images
NZ Herald
New Zealand
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