The New Zealand unemployment rate is expected to rise to 5.3% in the March quarter from 5.1% in the December 2024 quarter as job growth is not fast enough to meet population growth, Westpac said in a Wednesday report.
The current spare capacity in the labor market will continue to exert downward pressure on wage growth, the report said.
The Reserve Bank of New Zealand's (RBNZ) February Monetary Policy Statement predicted a slight rise in unemployment to 5.2%, marking the peak for this cycle.
However, Westpac forecasts suggest the RBNZ is overestimating the labor market's response to the broader economic upturn.
Westpac expects another 25 basis points cut in the official cash rate at the 28 May policy review.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。