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Spare capacity needed in labour market to bring down inflation - Economist

Author
Newstalk ZB,
Publish Date
Wed, 1 Nov 2023, 8:16AM
Photo / Getty
Photo / Getty

Spare capacity needed in labour market to bring down inflation - Economist

Author
Newstalk ZB,
Publish Date
Wed, 1 Nov 2023, 8:16AM

Our largest bank's Chief Economist believes the anticipated unemployment figures show that the Reserve Bank's approach to tackling inflation is working. 

Stats NZ will release the latest data just before 11am. 

Most economists forecast an unemployment rate of 3.9%, up from 3.6% three months ago. 

ANZ's Sharon Zollner told Mike Hosking that spare capacity is needed in the labour market to avoid the risk of a wage price spiral, and bring down inflation. 

She says it's not a great recipe, but if inflation and other pressures aren't tackled now there'll be a bigger bust down the track. 

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