Employment data from NZ, job vacancies survey by ANZ

For the month of August, up 1% m/m

  • prior -0.9%, revised up from -1.0%

For the y/y, up 10.9%

  • prior +11.1% (these y/y are based on a month moving average)

ANZ cite the slip in the y/y (from 20% y/y growth at the beginning of 2017) from a combination of demand for labour slowing & firms 'giving up on advertising given a chronic skill shortage'. ANZ expect slow wage growth still, and subdued CPI