ASB, BNZ bring forward forecasts of first RBNZ rate hike to November after NZIER's QSBO shows record labour shortages, but RBA sees rates on hold to 2024 and US 10 yr yield falls to 1.36%
New Zealand is in a more difficult position, govt would welcome inflation to chip away house to income gaps, but needs to run tight monetary policy to avoid corrections due to interest rate hikes! Our peers like AUS have more margin available to them!
Its not just about the availability of skilled and unskillled workers
It's the inter-connectedness of - housing - traffic - wages - mobility of labour - immigration
You can't discuss one without discussing the others
You cant solve one without simultaneously solving the others
8 May 2016
If you are talking about Auckland ... there is a direct relationship between where you live and where you can find a job that pays enough to make it economically
worthwhile making the journey each day
Someone living in Laingholm Southwest of Titirangi would have to think long and hard about taking a shelf-stacking job in East Tamaki
An unemployed supermarket shelf-filler living in Pukekohe is unlikely to seek a job in New Lynn and even more unlikely they could afford to re-locate to put
themselves in a position to seek that job
While employers can "possibly" make a case for importing a skilled migrants, very soon those same employers are going to have to provide suitable packages
including a company vehicle and company supplied (subsidised) accommodation close to the job. If they are (eventually) forced to do it for migrants, they should
offer the equivalent to the locals
That's the looming unforseen consequence of government caving in to the employer lobbyists
New Zealand is in a more difficult position, govt would welcome inflation to chip away house to income gaps, but needs to run tight monetary policy to avoid corrections due to interest rate hikes! Our peers like AUS have more margin available to them!
Its not just about the availability of skilled and unskillled workers
It's the inter-connectedness of - housing - traffic - wages - mobility of labour - immigration
You can't discuss one without discussing the others
You cant solve one without simultaneously solving the others
8 May 2016
If you are talking about Auckland ... there is a direct relationship between where you live and where you can find a job that pays enough to make it economically
worthwhile making the journey each day
Someone living in Laingholm Southwest of Titirangi would have to think long and hard about taking a shelf-stacking job in East Tamaki
An unemployed supermarket shelf-filler living in Pukekohe is unlikely to seek a job in New Lynn and even more unlikely they could afford to re-locate to put
themselves in a position to seek that job
While employers can "possibly" make a case for importing a skilled migrants, very soon those same employers are going to have to provide suitable packages
including a company vehicle and company supplied (subsidised) accommodation close to the job. If they are (eventually) forced to do it for migrants, they should
offer the equivalent to the locals
That's the looming unforseen consequence of government caving in to the employer lobbyists
https://www.interest.co.nz/opinion/81423/bernard-hickey-asks-why-over-third-million-unemployed-and-underemployed-new-zealanders#comment-857302