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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
SEEK NZ is reporting that job ads fell 2.3% m/m in September after rising 2.1% to be only 1.2% above January 2020. They are now down 25.2% y/y. This along with the applicants-to-ads ratio returning to the pandemic highs signals a significant easing in the labour market helped by the migration-driven increase in the labour supply. But this is yet to feed through to advertised salaries which were stronger in Q3 at 5.2% y/y. NZ Q3 labour market data are published on November 1.
- Applicants per job ad in August declined 4.4% m/m but are still up 156% y/y indicating a significant loosening in the labour market. SEEK NZ notes that the “balance of power” has moved away from workers to employers but this shift may have stabilised now.
- The decline in advertised vacancies was broad-based across regions with Auckland and Wellington now below pre-Covid levels. The decline was focused in the IT and admin sectors but demand for people in community services remains very strong.
SEEK NZ new job ads 2013=100
Source: MNI - Market News/SEEK NZ
SEEK NZ advertised salary index y/y%
Source: MNI - Market News/SEEK NZ
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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