"The unemployment rate is expected to rise to a near four-year high as demand for workers cools while the economy struggles under the weight of high interest rates."
#AnanZaki, RNZ business reporter, 2024
Really Anan? Instructing the RB to keep interest rates high, increasing unemployment, is a political choice. By a class war government controlled by neo-feudal rentiers. Why are you describing it like it's bad weather?
(1/?)
"Westpac senior economist Michael Gordon said the labour market is 'clearly softening', something the Reserve Bank (RBNZ) wants to see.
...As demand for workers eases and competition for jobs rises, wage inflation is also expected to cool further."
#AnanZaki, RNZ business reporter, 2024
Exactly. So why is even RNZ reporting this as if we're all employers, who this is good for?
(2/?)
Oh, and as for those mythical "labour shortages"...
(You know, the ones that mysteriously appear whenever centrists are in government, and failing to keep the wage slaves sufficiently beaten down)
... here's labour economist Heidi Shierholz and capitalist Nick Hanauer agreeing that what they actually are is *wage* shortages;
Strypey