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Economic data and event previews - 4 May 2009
Australia and New Zealand - economic data and event previews
New Zealand
NZ private sector
wages (%q/q, 1Q) - Wage growth probably moderated in 1Q
as labour market conditions continued to ease.
We
forecast private sector labour costs to grow 0.6%q/q in 1Q,
slowing from 0.7% in 4Q,
NZ employment (%q/q, 1Q) -
The jobless rate should have risen to 5.4% in 1Q as
employment contracts 1.0%. Business
confidence has been
at multi-decade lows, meaning that companies have been
reluctant to hire new staff, instead choosing to
shed
workers to cut costs.
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