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Labour Cost Index (QoQ)

Statistics New Zealand releases employment data on a quarterly basis. The statistics shed a light on New Zealand’s labor market, including unemployment and employment rates, demand for labor and changes in wages and salaries. These employment indicators tend to have an impact on the country’s inflation and Reserve Bank of New Zealand’s (RBNZ) interest rate decision, eventually affecting the NZD. A better-than-expected print could turn out to be NZD bullish.

Most recent - Tuesday 1 August 2023 22:45

Previous
0.9%
Forecast
1.2%
Actual
1.1%

Lower numbers than forecast tend to be bullish for xxx/NZD pairs and bearish for NZD/xxx pairs.

Next event - Wednesday 1 November 2023 21:45

Previous
1.1%
Forecast
-
Actual
-

The typical/expected impact on NZD pairs is medium.

There is no forecast value for Labour Cost Index (QoQ) yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Labour Cost Index (QoQ) was 1.1% against a forecast of 1.2%.

Past events

Date
Forecast
Actual
Tuesday 1 August 2023 22:45
1.2%
1.1%
Tuesday 2 May 2023 22:45
1.1%
0.9%
Tuesday 31 January 2023 21:45
1.3%
1.1%
Tuesday 1 November 2022 21:45
1.1%
1.1%
Tuesday 2 August 2022 22:45
1.1%
1.3%
Tuesday 3 May 2022 22:45
0.7%
0.7%
Tuesday 1 February 2022 21:45
0.9%
0.7%
Tuesday 2 November 2021 21:45
0.8%
0.7%
Tuesday 3 August 2021 22:45
0.4%
0.9%
Tuesday 4 May 2021 22:45
0.3%
0.4%
Tuesday 2 February 2021 21:45
0.5%
0.5%
Tuesday 3 November 2020 21:45
0.3%
0.4%

Economic context

Recent economic data has been moderately bearish for NZD. Other recent announcements which may affect the market's interpretation of the next Labour Cost Index (QoQ) result:

PreviousLatest
ExportsBearish change$5.38B$4.99B
ImportsBullish change$6.55B$7.28B
Trade Balance NZD (YoY)Bullish change$-15.88B$-15.54B
Westpac Consumer SurveyBearish change83.180.2
Gross Domestic Product (QoQ)Bullish change0%0.9%
Gross Domestic Product (YoY)Bearish change2.2%1.8%
Business NZ PSIBearish change4847.1
Business NZ PMIBearish change46.646.1

About Labour Cost Index (QoQ)

Country:New Zealand
Currency:NZD
Source:Stats NZ
Category:Labor Market
Frequency:Quarterly
 
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