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.
BusinessDesk.co.nz
No comments yet
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report
Devon Funds Morning Note - 25 June 2025
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report