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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NEW ZEALAND
BNZ/SEEK job ads rose 2% m/m in January, the first rise since August 2022. They are down 13.3% y/y and 18.1% off of their May peak but remain elevated compared to most of the 2000s signalling that labour demand remains strong. BNZ notes that the trend is still downwards and that January’s rise is not significant given other indicators are pointing to a slowdown in the economy following 400bp of tightening and more expected.
- Applicants per job ad rose a further 18.5% m/m to be its highest since the pandemic-affected October 2020. Given that the unemployment rate is very low at 3.4%, the increase in applicants signals an increase in labour supply, which could help to reduce the pressure on wages that the RBNZ is worried about.
- Auckland’s job ads in January didn’t show any sign of the extensive flooding and actually rose 4%.
BNZ/SEEK Job Ads 2013=100
Source: MNI - Market News/BNZ-SEEK
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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