New Zealand workers upbeat about job market, but downbeat about earnings outlook - Westpac

New Zealand employment confidence index continues to rise in June quarter, noted Westpac. Workers in New Zealand have become increasingly positive about the state of the labor market. This was seen in the June Westpac McDermott Miller Employment Confidence Index that rose to a level of 113.4 from March’s 109.9. Sentiment in the state of the labor market has not been this solid since 2008, before the global economy was hit by the financial crisis.

Bolstering employment sentiment has come on the back of continuing economy growth in recent years and the related rises in the demand for labor. Workers have recorded solid growth in the number of available jobs in recent years. They also reported increased job security and they expected job openings to continue rising in the coming year.

Employment sentiment continues to be strongest among those earning over $70,000 per annum. But confidence has been strengthening amongst all income groups in the past year. However, workers continue to be downbeat about the outlook for earnings, stated Westpac.

At 22:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bearish at -76.6361, while the FxWirePro's Hourly Strength Index of New Zealand Dollar was slightly bearish at -74.0883. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest