Friday 20th December 2013
|Text too small?|
The cost of labour in Christchurch is increasing, especially in the construction industry, driven by a tight labour market with low unemployment and strong demand due to the earthquake rebuild, according to the latest September quarter Canterbury Rebuild Report by the Ministry of Business, Innovation & Employment.
The mismatch between supply and demand saw salary and wages in the Canterbury construction sector grow at a 3.7 percent annual pace in the September quarter, outpacing the 1.6 percent rate for the construction industry in the rest of New Zealand, the report said.
The Reserve Bank has said it's monitoring the extent the Canterbury rebuild will spillover to broader inflation, and is expected to hike interest rates early next year as the local economic recovery gathers momentum.
The next MBIE report, covering the December quarter, will be released in March.
No comments yet
South Port beats guidance, earnings in line with 2018 record
Plexure sees revenue growth from White Castle deal
22nd July 2019 Morning Report
NZ dollar treading water as markets focus on Iran
MARKET CLOSE: NZ shares extend gain as passive funds bolster prices; Tourism Holdings climbs
NZ dollar headed for 1.3% weekly gain on expectations of a Fed rate cut
RBNZ knock-back gives Resolution chance to low-ball AMP - Jarden
Rail hubs may not boost Napier Port log trade
O'Connor looks to overhaul Biosecurity Act, improve animal tracing
Denton Morrell undefended at liquidation hearing