The underbelly: underutilised Kiwis are underpaid and underemployed

How long will the war in the Middle East go on for? Oil price is one thing, supply is what we’re really worried about. But worryingly, the menu has changed. No more TACO, now we have NACHO. Not a chance Hormuz opens.We talk about the labour market data report card. It’s not good. Underutilisation is still high, 13%, but that slack in the labour market puts downward pressure on wages, and therefore inflation.Our view is that there’s sufficient disinflationary pressure in the economy such that the RBNZ has no reason to hike rates any time soon. We’ve been beating this drum for a while, and we stand by it.Hosted by Jarrod Kerr, Sabrina Delgado, and Alexandra Turcu. Follow our economic commentary & insights here.Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.