ALERT! New Zealand Unemployment Skyrockets: 5.1% Crisis Hits!
Unprecedented Job Losses and Wages Plummet!
New Zealand faces an economic storm as unemployment soars to a shocking 5.1%, the worst we’ve seen since late 2020! With job losses hitting a staggering 32,000, this is a wake-up call for Kiwis everywhere!
Underutilisation Climbing like a Mountain!
The underutilisation of our workforce has surged to an eye-popping 12.1% from just 10.7% a year ago. What does this mean? A glaring sign of a labor market in disarray, with more workers left on the sidelines than ever!
Men Hit Hardest!
Brace yourselves—men are feeling the brunt of this crisis, with a shocking 85% of job losses among males! Key sectors like trades and machinery are in peril, leaving many workers scrambling for part-time gigs as full-time roles vanish.
Wage Growth Sluggish as a Tortoise!
And just when you thought it couldn’t get worse, private sector wage growth has crawled to a mere 3% over the year, with a paltry 0.6% bump last quarter! The days of rising wages in NZ are fading fast, as workers struggle with tightening belts and dwindling prospects.
RBNZ Set to CRUSH Interest Rates Again!
Mark your calendars for February 19! The Reserve Bank of New Zealand (RBNZ) is poised to deliver yet another jaw-dropping 50 basis point rate cut—the third massive slashing in a row! Markets are nearly 92% sure this will happen, leaving rates 175 bps lower since the easing frenzy began!
A Wild Card: China’s Influence!
Forget New Zealand’s own economic decisions; it’s all about China! The wild fluctuations in the NZD/USD are now more about global risk appetite than local sentiment. If your head is spinning, you’re not alone!
Dip Buyers Go Crazy Over NZD/USD!
Despite the chaos, fearless dip buyers are diving back into NZD/USD, eager to grab a bargain! The currency is fluctuating wildly, yet somehow sticking to crucial technical levels. What’s next? A bullish signal from the recent price action!
Watch Out! Major Levels in Play!
Keep your eyes peeled for key price points: .5678, .5720, and .5754! If the NZD/USD takes a nosedive below .5515, it could spell disaster for this economy!
The Bottom Line?
New Zealanders better buckle up! The job market is unraveling, wages are stagnating, and interest rates are about to go even lower. This rollercoaster isn’t stopping anytime soon!
