2015 – Ongoing jobless tally
Continued from: 2014 – Ongoing jobless tally
So by the numbers, for this year;
- Otago University: 20 redundancies
- Cavalier Carpets: 22 redundancies (plus management)
- Norman Ellison Carpets: 20 redundancies
- NZ Post: 400 redundancies
- SRX Global: 28 redundancies
- Mana Transport: unknown number of redundancies
- Fishing Camping Outdoors: unknown number of redundancies
- Sanford: 232 redundancies
- Forman Building Systems: 22 redundancies
- Solid Energy: 113 redundancies & 15 sub-contractors
- Dunedin City Council: 15 redundancies
- Southern District Healthboard: 25 redundancies
- Corrections Dept: 260 redundancies
- Relationship Services: 183 redundancies
- Waihi Mine: 50 redundancies
- Fairfax media: 185 redundancies
- New Plymouth City Council: 52 redundancies
- Fonterra: 523 redundancies
- Spark (Telecom): 24 redundancies
- DB Breweries: 24 redundancies
- NZ Post: 75 redunancies
- Unitech: 60 redundancies (proposed)
- West Coast District Health Board-Kynnersley Rest Home: 16 redundancies
- Bruce Woollen Mill: 19 redundancies
- Mediaworks/Radio Dunedin: 2 redundancies
- Solid Energy/Huntly Mine: 68 Redundancies
- Spark (Telecom): 22 redundancies
- NZ Steel: 100 redundancies
- Ericsson: 7 – 10 redundancies
- Unitech: 87 redundancies
- Downer: 30 redundancies
- Call Active: 60 redundancies
- Christchurch City Council: 46 redundancies
*NB: actual rate for Dec 2014/Jan 2015 Quarter should be 5.7%, not 5.8% as depicted in above column. See Stats NZ data here.
June 2015 quarter – Employment & Unemployment
Commentary from Statistics New Zealand:
The unemployment rate increased to 5.9 percent in the June 2015 quarter (up from 5.8 percent), Statistics New Zealand said today. At the same time, there were 7,000 more people employed over the quarter (up 0.3 percent).
“Even though employment grew over the quarter, population growth was greater, which resulted in a lower overall employment rate for New Zealand,” labour market and household statistics manager Diane Ramsay said.
“Despite lower quarterly growth, this is still the 11th consecutive quarter of employment growth, making it the second-longest period of growth since the period between 1992 and 1996,” Ms Ramsay said.
Over the year to June 2015, employment growth was still fairly strong (at 3 percent) with 69,000 more people employed. The manufacturing industry showed the strongest annual employment growth.
“This is the first time since the December 2013 quarter that the construction industry has not been the largest contributor to annual growth in employment,” Ms Ramsay said.
The vast majority of growth was in Auckland (29,600 people), where the annual employment growth was driven by retail trade and accommodation, followed by construction. Bay of Plenty had the second-highest employment growth, with 11,000 more people being employed over the year.
Annual wage inflation, as measured by the labour cost index, was 1.6 percent, compared with annual consumer price inflation of 0.3 percent.
September 2015 quarter – Employment & Unemployment
Labour market at a glance
- Number employed fell for the first time in three years.
- Unemployment rate increased to 6.0 percent.
- Labour force participation rate falls further from record high in March 2015 quarter.
- Annual wage inflation remained at 1.6 percent.
- The Employment Rate fell 0.5%
- According to the HLFS, Total actual weekly hours worked increased over the last Quarter by +0.4, and Annually, by +1.5
Which means few people are working longer hours to sustain economic growth.
Other Economic Info
ANZ Economic Outlook
The New Zealand economy has clearly entered a more challenging period. Growth averaged just a 0.3% quarterly pace over the first six months of the year vis-à-vis a 0.9% quarterly pace over the second half of 2014.
Annual growth slowed to 2.4% in Q2 (the slowest since December 2013) and timelier indicators suggest a pace tracking perhaps a tad below 2% at present; not dire – nor a downturn – but certainly sluggish and consistent with deceleration.
In per-capita terms, activity is treading water and slowing labour demand (but still-strong labour supply growth) has seen the unemployment rate tick up to close to 6% Consumer and business confidence have fallen, and where the expansion was previously relatively broad-based, a more divergent regional performance is now evident.
Full Report here.
CTU Economic Bulletin 173 – Oct 2015
Despite economic growth in production per hour worked which peaked at 4.7 percent in dollar terms in the year to June 2014, wage rises have been subdued. Even the Reserve Bank is commenting on it. What are some of the reasons for wage rises being low?
We have a poorly performing economy. Most of the recent growth has been because more people have been brought into the labour force or people are working longer hours, rather than because people are producing more in each hour they work. Over the supposed “rock star” period of June 2013 to June 2015, the economy’s production per hour worked increased only 0.1 percent. Yet companies’ profit rates are rising quickly – so wages could.
Even the Minister of Finance concedes that current strong net immigration is holding down wages. It could be much better controlled so that, while taking humanitarian concerns into account, it focuses on skills that New Zealand residents genuinely do not have or couldn’t be trained to do, and in numbers that the country can absorb.
The Government has been open about suppressing pay increases for people employed in the state sector. Its tight funding of contractors such as in aged care also holds down wages. By doing this, the Government is reducing pressure on private sector employers for pay increases.
Full Report here.
Building Consents – Statistics NZ
- May 2015: 2,171 new dwellings
- June 2015: 2,042 new dwellings
- July 2015: 2,824 new dwellings
- August 2015: 2,291 new dwellings
- September 2015: 2,242 new dwellings
- 24 September: Fonterra Co-operative Group lifted its forecast total available for payout for the 2015/16 season to $5.00 − $5.10 kgMS due to an increase in the forecast Farmgate Milk Price of 75 cents
- 14 October: Standard and Poor’s downgraded Fonterra’s credit rating from A to A-
Westpac Economic Overview – November 2015
Brewing El Niño conditions are likely to cause dry weather and knock the economy. And there will be further challenges from a global economic slowdown, the levelling off of the Canterbury rebuild, and the possibility of a housing market slowdown in Auckland.
Full Report here.
The under-employment stats;
People who are underemployed are those who work part-time, would prefer to work more hours, and are available to do so. In unadjusted terms, the number of underemployed grew by 12 percent over the year. While the number of part-time workers increased over the year, the ratio of people underemployed to employed part-time also rose – from 17.1 percent in June 2013 to 18.7 percent this quarter.
Official under-employment: up
Jobless: people who are either officially unemployed, available but not seeking work, or actively seeking but not available for work. The ‘available but not seeking work’ category is made up of the ‘seeking through newspaper only’, ‘discouraged’, and ‘other’ categories.
Under-employment: employed people who work part time (ie usually work less than 30 hours in all jobs) and are willing and available to work more hours than they usually do.
Employed: people in the working-age population who, during the reference week, did one of the following:
worked for one hour or more for pay or profit in the context of an employee/employer relationship or self-employment
worked without pay for one hour or more in work which contributed directly to the operation of a farm, business, or professional practice owned or operated by a relative
had a job but were not at work due to: own illness or injury, personal or family responsibilities, bad weather or mechanical breakdown, direct involvement in an industrial dispute, or leave or holiday.
Addendum2: Other Sources
Statistics NZ: Household Labour Force Survey
[To be periodically up-dated]
= fs =
For a better New Zealand…
~ Cleaner rivers
~ No deep-sea oil drilling
~ Less on Roads - more on Rail
~ A Living wage at $20.20/hr
~ Marriage equality - Yay! Got that one!
~ Strong, effective Unions
~ No secret free-trade deals
~ Breakfast/lunches in our schools
~ Introducing Civics into our school curriculum
~ Cut back on the liquor industry
~ A fairer, progressive tax system
~ Fully funded, free healthcare
~ Ditto for education, including Tertiary
~ Fund Pharmac for Pompe's Disease medication & other 'orphan' drugs
~ No state asset sales!
~ Rebuild public TV broadcasting!
~ Keeping farms in local ownership
~ Reduce poverty, like we reduced the toll for road-fatalities
~ State housing for life
~ Jobs, Jobs, Jobs!
~ Stronger communities
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