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Community Scoop » Mounting Job Cuts In New Zealand

Press Release – Socialist Equality Group The global economic crisis triggered by the coronavirus pandemic is continuing to worsen in New Zealand. Working people are bearing the full burden, through job losses and the soaring cost of living, especially in housing, pushed up by landlords and … The global economic crisis triggered by the coronavirus pandemic is continuing to worsen in New Zealand. Working people are bearing the full burden, through job losses and the soaring cost of living, especially in housing, pushed up by landlords and investor speculation. In the 12 months to September 2020, New Zealand’s economy shrank by 2.2 percent. While there was a return to growth in the September quarter, some economists believe the country is now in another recession. The tourism, retail and education industries have all been severely affected by the border closure, imposed nearly a year ago.

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