Comments

David Thompson Posted:
So very, very true. It beggars belief that we consider ourselves to be a developed nation when so much of our economy is based on selling milk powder or logs. BTW, I own a Plinius amplifier (my second) that drives a set of Theophany speakers.
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David Thompson Posted:
A robust but sobering report. It concerns me that confidence is rising, yet sales and exports are down and "manufacturers and exporters are still lagging behind other sectors". Surely we should wait until we're earning more money before we start spending more?
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siemens Posted:
Yes true! The only thing that will never die in this world is the nature and its science behind it. Great post.
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Kieran Ormandy Posted:
Thanks for the question Steven, Germany has seen increases in manufacturing employment since 2009, and Switzerland has had stable manufacturing employment between 2006 – 2011, even in the face of ongoing Euro-zone issues. Korea has seen increases in manufacturing employment since 2008 and Israel experienced large increases since 1998, while being stable over the last 4 years. Singapore has had increases in manufacturing employment over the last two years. These countries all value their manufacturing sectors and work to protect them, this is reflected in the above numbers and their performance through the GFC. Note data around the above examples was sourced from OECD labour market stats.
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John Walley Posted:
Point one: you should have no doubt what our Association says publically represent the views of our members. Point two: we don’t knee jerk responses, if you trace back our comments around NZPower you will see them link all the way back to our research in 2004 and 2005. All that material is fully linked from our comments above. Point three: you will note our comments on major users, sadly the same advantage does not accrue to smaller industrial users. The perverse incentives of the LRMC approach in all this are well known. Point four: the NZMEA is not like any other Association in New Zealand we admit only manufacturers and exporters into membership, and our public expressions are the views of that restricted membership.
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9/11/12

Jobless at 7.3 percent - September 2012 Quarter


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The latest Household Labour Force Survey has shown a 0.5 percentage point increase in the unemployment rate, to 7.3 percent seasonally corrected (actual 7.2%) in the September 2012 quarter; the highest since 1999.

The number of people unemployed rose by 13,000, while the labour force participation rate remained unchanged.

NZMEA Chief Executive John Walley says, “This shock is no real surprise to manufacturers and exporters. The Government and Reserve Bank continue to see economic strength where we see none – they need to get out more”.

The high exchange rate has fuelled job losses in the manufacturing and export sectors ruining their ability to compete in world markets. Two companies, Dynamic Controls and Rakon Ltd recently announced potential combined job losses of up to 120 people. Rakon outlined plans to shift part of its production overseas in response to the overvalued and volatile New Zealand Dollar, and Dynamic Controls are losing volume and profitability for the same reason. Their departure will have flow on effects to the wider supply chain; applying new pressures on other New Zealand firms. These will be reflected in the December 2012 quarter.

“Any claim that ‘there no crisis’ is now pretty hollow. On the news that Australia is quietly printing money, New Zealand becomes lucky last on the broadening of monetary policy. How long will Government and the Reserve Bank ignore the changing global context?”

“The first step in fixing a problem is to admit a problem exists. We will have to face this sooner or later, the longer it takes the more damage will have been done”.

“Jobs in manufacturing and exporting have a high value to the economy, the on-going defence of the status quo; the ‘what crisis’ mind-set is hard to comprehend”.



tags: jobs, currency, monetary policy, unemployment

comments

2 Comment(s)



Tim Manning - 30 November 2012 at 4:41 AM
Hello,
After reading the above Blog I would like to showcase my own view. Really, you have mentioned updated things in your Blog with unique and informative contents that attract me to explore your Blog and I think many people will love it to read. I have bookmarked your Blog and hope you will update new Blog very soon. Cheers!
Kieran Ormandy - 30 November 2012 at 12:13 PM
Hi Tim,
Thanks for taking the time to read and comment on our blogs, we appreciate the support. New content will updated as much as possible, so keep an eye out. Also check out the ChangeNZ site and John Walley blog if you like this. Cheers.

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