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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World New Zealand employee confidence falls in Q3 - survey Reuters - Wednesday, September 22 Send IM Story Print WELLINGTON, Sept 22 - New Zealand workers' confidence fell in the third quarter as belief in the strength of the economic recovery waned, a survey showed on Wednesday. The Westpac-McDermott Miller employee confidence index fell 5.6 points to 102.6 between June and September, after being at a near two year high in the previous quarter. A reading above 100 indicates more optimists than pessimists. "Just as with consumer confidence, the negative tone of domestic and international data has taken its toll on employees in the last few months," Westpac senior economist Donna Purdue. in a statement. The current conditions index fell to 80.1 from 85.2, while expectations of future employment fell to 117.7 from 123.6. The number of people believing it is more difficult to find a job rose to a net 61.3 percent from 45.8 percent in June. It was the most pessimistic level since late last year and seen as reaction to the sharp jump in unemployment in the second quarter to 6.8 percent from 6 percent. "However, it is a little more difficult to reconcile the deterioration with business surveys, which show that firms are finding it harder to obtain skilled and unskilled labour," Purdue said. More respondents said their wages increased from a year ago, which was consistent with the economy picking up pace after the recession, but caution is expected to remain and recovery gradual. "Worries over job security and opportunities are likely to see consumer spending remain modest for a while yet," said Purdue. Last week, the Reserve Bank of New Zealand kept interest rates on hold as expected, and scaled back expectations for future rises because of a sluggish economy and uncertain outlook. [ID:nSGE68F00F] The bank said it was likely it would pause in raising rates from time to time, with the cycle more gradual and lower than previously expected. Analysts polled by Reuters expect the tightening cycle to resume in early 2011. [NZ/POLL] Recommend Send IM Story Print Related Articles India launches mobile phone share trading AFP - 18 minutes ago Taiwan luxury sedan maker plans exports AFP - 24 minutes ago US-BUSINESS Summary Reuters - 26 minutes ago Sinochem hires banks to explore Potash counterbid Reuters - 26 minutes ago India, U.S. finalising $5.8 bln Boeing aircraft deal Reuters - 29 minutes ago News Search Top Stories Siemens to book huge charge on healthcare unit US debate continues on salmon 'Frankenfood' Summers latest member of Obama economic team to quit US Fed 'prepared' to act if recovery stalls Italian bank chief resigns over Libyan money row More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended US exits longest recession since World War II Canadian space agency beams northern lights over Web Investors rush to buy Greek bond issue: debt office Australia warns of C.Games terror attack 'risk' Anti-Islam rant sees far-right fly high across Europe More Most Viewed » Climate: New study slashes estimate of icecap loss US pastor puts Koran-burning on hold 'Time bomb' superbug requires global response: doctor Japanese rider Tomizawa dies in San Marino Moto2 GP Vitamin B 'could delay Alzheimer's onset' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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