Unemployment rates could spike, as cost-of-living pressures continue and migration numbers remain high
Unemployment rates could spike, as cost-of-living pressures continue and migration numbers remain high
11 July 2024
Stats NZ figures show a net migration gain of 83-thousand people in the year to May -- down 14 thousand from the year before.
ASB chief economist Nick Tuffley says since we still have more people coming in, there would be a high number of people looking for work.
He says employment options are flat-lining and job losses are rising.
Tuffley says jobs aren't being created at a time a lot of people are seeking work, it will contribute to a lift in unemployment and slower wage growth.
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