Confidence in the job market has continued to drop to its lowest level in five years as more New Zealanders feel uncertain about finding work, keeping their jobs, and getting decent pay, according to the latest Westpac-McDermott Miller Employment Confidence Index.
“The latest Westpac survey shows that New Zealanders continue to feel squeezed by a lacklustre labour market and high cost of living, especially in areas like Auckland,” Labour finance spokesperson Barbara Edmonds said.
“The report shows that New Zealanders are worried about the lack of jobs, pay not keeping up, and feeling less secure in work. That’s the direct result of this Government’s economic mismanagement, which has cost jobs and put pressure on workers.
“Last week we learned that the construction sector shrank again—down 7.3 percent over 2024—not helped by the Government stopping housing and infrastructure projects. That’s cost thousands of jobs and pushed affordable housing even further out of reach. This week, we’re learning that many businesses are not looking to hire, even if demand starts to tick up.
“Kiwis don’t feel better off because they aren’t. National talks about growth, but what they’re delivering is cuts, layoffs, and aren’t helping people with the cost-of-living like they promised. If they were serious about rebuilding the economy, they’d invest in jobs, health, and housing, not slash public services while families struggle to make ends meet,” Barbara Edmonds said.
