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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。