{"id":515428,"date":"2026-06-24T03:13:25","date_gmt":"2026-06-24T03:13:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/515428\/"},"modified":"2026-06-24T03:13:25","modified_gmt":"2026-06-24T03:13:25","slug":"nz-employment-confidence-hits-record-low-and-borrowers-are-feeling-it","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/515428\/","title":{"rendered":"NZ employment confidence hits record low \u2014 and borrowers are feeling it"},"content":{"rendered":"<p>New Zealand workers are more worried about their jobs and incomes than at any point since the <a href=\"https:\/\/www.mpamag.com\/nz\/companies\/westpac\/307853\" rel=\"nofollow noopener\" target=\"_blank\">Westpac<\/a>-McDermott Miller Employment Confidence survey began in 2004 \u2014 and for the first time in the survey&#8217;s history, expectations for future earnings growth have also hit a record low, according to the latest results released today.<\/p>\n<p>The Employment Confidence Index fell 12.5 points to 83.1 in the June quarter \u2014 the lowest reading in the survey&#8217;s 22-year history. The decline was broad-based, affecting all regions, age groups and income levels, with the drop in confidence tracked directly to the economic disruption caused by the Iran conflict and the surge in fuel prices that followed.<\/p>\n<p>Westpac senior economist Michael Gordon, who authored the report, noted an important timing caveat: the June survey was conducted in early June, just before the US-Iran peace deal and the largest of the recent declines in fuel prices. The March survey, meanwhile, was held at the very beginning of the conflict, before most households had registered the full impact. That timing gap means the survey captures the peak of anxiety rather than any subsequent recovery in sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"New Zealand workers are more worried about their jobs and incomes than at any point since the Westpac-McDermott&hellip;\n","protected":false},"author":2,"featured_media":515429,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60,219954,219953,219955],"class_list":["post-515428","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland","tag-new-zealand-labour-market","tag-nz-employment-confidence","tag-westpac-mcdermott-miller-employment-confidence"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/515428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=515428"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/515428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/515429"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=515428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=515428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=515428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}