December 2016
WESTPAC : McDERMOTT MILLER
EMPLOYMENT CONFIDENCE SURVEY
17January
2017
MEDIA RELEASE
“Employment optimism among working New Zealanders consolidated further in the December quarter of 2016” announced Richard Miller, Managing Director, McDermott Miller Limited. The Westpac : McDermott Miller New Zealand Employment Confidence Index now stands at 112.7, up 2.6 index points since September 2016 and 10.1 points since December 2015.
“The lift in employment confidence is widespread”, observed Richard Miller, “both private and public sector workers surveyed are optimistic about the employment situation in New Zealand, with Employment Confidence indices of 110.5 and 115.1 respectively.” “hitherto, public sector workers have tended to be sceptical about employment prospects”, he noted.
“Taken together, the positive 2016 December quarter results of the Westpac : McDermott Miller Consumer Confidence Survey and Employment Confidence Survey indicate growing optimism among New Zealanders that the outlook for the New Zealand economy is improving”, concluded Richard Miller.
ENDS
17 January
2017
Richard Miller, Managing Director
McDermott
Miller Limited
Tel: 04 471 8500
Mobile: 027 451 0158
Index Background
The
Index is based on survey results of a representative sample of 1554 New Zealand
households interviewed during 1-10 December 2016. 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.