Some NZ labour market news, Reuters with the report:

  • proposed new scheme would increase oversight of employers planning to hire migrants on temporary work visas, including checks to ensure no New Zealander could do the job instead
  • "Overall, the proposals will ensure that access to work visas is better matched to where there are genuine and high skill needs, and that the system provides more incentives and support for businesses to employ more New Zealanders," Immigration Minister Iain Lees-Galloway said.

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The NZ labour market is showing signs of tightness. This should increase that and is likely to have an impact on wage growth (up).

Which in turn is inflationary. This will have implications for RBNZ policy going forward (not backwards :-D )