Economy

“Unemployment is forecast to remain elevated until the end of 2025 and isn’t expected to fall back to its pre-recession lows within the forecast period. Without a plan to reduce it, we are choosing a permanently higher unemployment rate in New Zealand. It’s no wonder so many Kiwis are emigrating overseas.”

RBNZ data highlights weak economy and labour market

November 27, 2024November 27, 2024

“Unemployment is forecast to remain elevated until the end of 2025 and isn’t expected to fall back to its pre-recession lows within the forecast period.… Read More »RBNZ data highlights weak economy and labour market

This data shows that the labour market needs a plan, one that focusses on helping people into good, long-term work. Yet the government is doing the opposite.

Monthly Employment Data shows weakness in economy

October 29, 2024October 29, 2024

Monthly employment data released today by Statistics New Zealand showed our continuing labour market weakness, and particularly challenging conditions for young working people, said NZCTU… Read More »Monthly Employment Data shows weakness in economy

With inflation now being back in the target band, the Government has no reason to not invest in making sure that unemployment doesn’t happen. Anything else is a choice.

Falling Inflation Reflects a Falling Economy

October 16, 2024October 16, 2024

Data released by Stats NZ today showed inflation slowed to an annual rate of 2.2%, reflecting lower petrol prices and a weaker economy, said NZCTU… Read More »Falling Inflation Reflects a Falling Economy

The Government accounts released today show that spending and debt continues to grow...but there is no plan to deliver a better economy. Yet the Government is wedded to plan that will see unemployment rise, and investment fall. It’s time for a better plan.

Accounts show Government choosing pain over a plan

October 10, 2024October 10, 2024

“The Government accounts released today show that spending and debt continues to grow under the current Government, but there is no plan to deliver a… Read More »Accounts show Government choosing pain over a plan

“While many people will welcome lower interest rates, the rate cut is not a sign of strength in the economy but a recognition of its weakness.” NZCTU Economist Craig Renney on today’s decision by the Reserve Bank to cut the Official Cash Rate to 4.75%.

OCR decision a welcome relief for working people

October 9, 2024October 9, 2024

NZCTU Te Kauae Kaimahi Economist Craig Renney said the decision by the Reserve Bank to cut the official cash rate by 50 basis points (0.5%)… Read More »OCR decision a welcome relief for working people

Gender Pay Gap Not Closing

September 27, 2024October 10, 2024

Evidence released by the NZCTU Te Kauae Kaimahi today shows that the gender pay gap is not closing quickly enough. “Calculations of official data show… Read More »Gender Pay Gap Not Closing

GDP in June was smaller than June 2023 – meaning no real growth in the economy for at least a year. GDP per capita has been falling since September 2022, with a steeper fall than that found during the Great Financial Crisis.

GDP numbers show economic worries are real and need a solution

September 19, 2024September 19, 2024

Data released by Stats NZ today showed that the size of the economy fell -0.2% in the June Quarter. CTU Economist Craig Renney said “GDP… Read More »GDP numbers show economic worries are real and need a solution

Millions Wasted on Treaty Principles Bill

September 12, 2024September 12, 2024

Calculations undertaken by the NZCTU Te Kauae Kaimahi show that the Government will have wasted millions of dollars to take the already failed Treaty Principles… Read More »Millions Wasted on Treaty Principles Bill

It's time to change track: A bleak future looms unless we shift economic direction.

Reserve Bank Forecasts a year of recession and higher unemployment

August 14, 2024August 14, 2024

The Reserve Bank is forecasting a year of recession and higher unemployment, which is bad news for workers, said CTU Economist Craig Renney. “In cutting… Read More »Reserve Bank Forecasts a year of recession and higher unemployment

30,000 more people unemployed than a year ago...This Government is out of touch with the realities of working people.

Unemployment increase demands a plan from Government

August 7, 2024August 7, 2024

New data shows the unemployment rate accelerating to 4.6%, and worrying labour market trends that should spur the Government into action, according to the NZCTU… Read More »Unemployment increase demands a plan from Government

This fall in inflation is welcome, but it is being driven by international factors rather than domestic actions. There are also costs for working people that continue to increase rapidly.

Inflation data shows cost-of-living challenges continue

July 17, 2024July 25, 2024

Data released by Statistics New Zealand today shows that annual inflation was 3.3%, falling from by nearly half from a year ago (6% – June… Read More »Inflation data shows cost-of-living challenges continue

The disestablishment of the Pay Equity Taskforce will entrench inequities for working women

Axing of Pay Equity Taskforce will entrench inequities for working women

June 26, 2024June 26, 2024

The NZCTU Te Kauae Kaimahi is deeply disappointed by confirmation of the Public Service Commission that the Pay Equity Taskforce will be disestablished. “The disestablishment… Read More »Axing of Pay Equity Taskforce will entrench inequities for working women