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Unemployment rate expected to hit nine-year high (www.rnz.co.nz)

submitted 6 days ago by Dave@lemmy.nz to c/politics@lemmy.nz

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Unemployment picked to hit near nine year high of 5.3 percent

Labour market lags economic performance, reflecting last year's recession

Economy may have shed as many as 40,000 jobs in past couple of years

Annual wage growth seen just above 2 percent - tough on household budgets, eases inflation pressures

If numbers as expected, they will back another RBNZ rate cut

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[–] Dave@lemmy.nz 3 points 5 days ago (1 children)

Yeah I agree, and as per that Wikipedia page it seems like a direct cause and effect (fire heaps of public service, this leads to direct unemployment plus indirect by causing unemployment in supporting industries then those that supply them etc).

It's honestly pretty impressive that National can get voted in on a promise of fixing the economy time and time again, considering how bad they are at it.

[–] TagMeInSkipIGotThis@lemmy.nz 3 points 4 days ago* (last edited 4 days ago)

They're good* for certain parts of the economy that have a huge amount of money to throw at political campaigns I guess. Real Estate, Fisheries, Oil & Gas all got what they paid for.

*in the short term.