The rock star economy is well out of tune

The bad news is mounting for the economy with job ads falling in June, suggesting employment is taking a hit, says Labour’s Finance spokesperson Grant Robertson.

“ANZs Job Ads data shows job advertising fell 0.6 per cent in June and is down 0.7 per cent since last year. Advertising has declined in five of the past six months which doesn’t point towards any significant decline in the already high unemployment rate.

“This latest negative indicator comes off the back of plunging business and consumer confidence, record lows in dairy prices and stagnant wage growth. The so-called 'rock star' economy is out of tune.

“The National Government refuses to acknowledge what is apparent to everyone; the economy is in trouble. Instead they are happy to drift on and attempt to spin their way through this. That is complacent, reckless and simply not good enough.

“New Zealand jobs, businesses and incomes are on the line and Kiwis need a Government that backs them. They aren't getting that from National right now,” says Grant Robertson.