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Mark Smith: ASB Senior Economist on their expectation unemployment will fall slightly to 5.2%
Description
Economists are divided on whether unemployment is finally starting to fall.
Stats NZ is releasing its latest employment update at 10.45.
Economic conditions are improving, but that's also prompting more people to re-join the labour market.
Most bank economists expect the unemployment rate to remain unchanged from three months ago at an historically high 5.3%, but ASB economists think it will fall slightly to 5.2% – the first fall in unemployment in four years.
Senior Economist Mark Smith told Mike Hosking that hiring is starting to pick up after being on the backburner for so long.
He says the economy has some underlying momentum, and after waiting on the sidelines last year, firms are going to convert those intentions into actions.
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