Phil O'Reilly: Business expert says the pandemic may have played a part in the soaring labour productivity in New Zealand

The pandemic may have played a part in what seems to be soaring labour productivity in New Zealand. Stats NZ data shows in the year ended March 2022, productivity rose 2.2 percent, the fastest rate in over a decade. This comes in a tight labour market with unemployment sitting at 3.4 percent. Iron Duke Partners Managing Director Phil O'Reilly told Mike Hosking the rise may be a flow-on effect of Covid - as the Auckland and Delta lockdown took place in March 2021. He says he would like to see the productivity gain held onto next year, but doubts that will happen. LISTEN ABOVESee omnystudio.com/listener for privacy information.