NZ Labour Market Data Remains Steady Amid Rising Costs

The labour market data for New Zealand is expected to remain steady in the June quarter, with an unemployment rate of 5.3%, according to recent forecasts.

This prediction is slightly lower than the Reserve Bank of New Zealand's (RBNZ) forecast, but still indicates a slow response from the economy to hard times.

Kiwi businesses are struggling to operate on thin margins due to rising input costs, and households are equally sensitive to price increases.

The softness in both demand and the labour market is expected to keep a lid on wage growth, preventing a wage-price spiral that could fuel inflation.