1 00:00:00,000 --> 00:00:02,200 Speaker 1: Well, it's hard to hide from a headline in election year, 2 00:00:02,240 --> 00:00:04,080 Speaker 1: isn't it. Five point four is not five point three 3 00:00:04,120 --> 00:00:07,040 Speaker 1: or five point two. The unemployment rate is up. There 4 00:00:07,080 --> 00:00:09,280 Speaker 1: is some good news, of course, jobs are being created. 5 00:00:09,320 --> 00:00:11,239 Speaker 1: There's been a boost in terms of women returning to 6 00:00:11,280 --> 00:00:13,920 Speaker 1: the workforce, and Nicola Willis, Finance Minister, is with us. 7 00:00:14,000 --> 00:00:14,720 Speaker 1: Very good morning to. 8 00:00:14,680 --> 00:00:16,279 Speaker 2: You, Good morning mate. 9 00:00:16,320 --> 00:00:18,320 Speaker 1: But the politics of it all sadly for you. The 10 00:00:18,320 --> 00:00:20,680 Speaker 1: optics win, don't they. Five point four is not what 11 00:00:20,720 --> 00:00:21,840 Speaker 1: you wanted or needed. 12 00:00:22,760 --> 00:00:26,000 Speaker 2: Well, no question, we want to see that number coming down. 13 00:00:26,040 --> 00:00:30,760 Speaker 2: We want to see unemployment decreasing. What is positive is 14 00:00:30,800 --> 00:00:34,040 Speaker 2: the underlying signs that that is going to happen, and 15 00:00:34,040 --> 00:00:38,720 Speaker 2: that's because employment growth is up considerably. It's up fifteen 16 00:00:38,720 --> 00:00:42,159 Speaker 2: thousand jobs which have been created in that three month period. 17 00:00:42,440 --> 00:00:45,919 Speaker 2: And what's happening is as people are seeming more confident 18 00:00:45,960 --> 00:00:49,599 Speaker 2: about the economy, business confidence up, consumer confidence up, more 19 00:00:49,640 --> 00:00:53,360 Speaker 2: people are entering the workforce, so they're saying, actually, I'm 20 00:00:53,400 --> 00:00:54,920 Speaker 2: going to go out and try and get a job. 21 00:00:55,000 --> 00:00:57,600 Speaker 2: And that growth in the number of people trying to 22 00:00:57,640 --> 00:01:00,319 Speaker 2: find a job has slightly outpaced the number of new 23 00:01:00,400 --> 00:01:03,960 Speaker 2: jobs created and that's where we get to on that unemployment. 24 00:01:03,960 --> 00:01:06,160 Speaker 1: That is correct, and no one would argue with you, 25 00:01:06,200 --> 00:01:08,120 Speaker 1: but they would have to be of a mindset to 26 00:01:08,240 --> 00:01:12,039 Speaker 1: listen to that inelection year and absorb it, whereas there 27 00:01:12,040 --> 00:01:14,600 Speaker 1: are plenty of people who go it's gone up full stop. 28 00:01:15,640 --> 00:01:18,679 Speaker 2: Well, the reason I care about those underlying indicators of 29 00:01:18,840 --> 00:01:21,920 Speaker 2: hiring going up, job ads going up, the number of 30 00:01:22,000 --> 00:01:25,800 Speaker 2: jobs being created increasing is because those are all the 31 00:01:25,840 --> 00:01:27,600 Speaker 2: things that we need to see in order to be 32 00:01:27,640 --> 00:01:31,440 Speaker 2: confident that overall unemployment number will be coming down this 33 00:01:31,560 --> 00:01:35,319 Speaker 2: year consistent with the uptick and economic activity that we 34 00:01:35,480 --> 00:01:38,600 Speaker 2: are seeing. So we're going in the right direction on 35 00:01:38,720 --> 00:01:42,680 Speaker 2: job creation and on unemployment, and yes, I'm looking forward 36 00:01:42,760 --> 00:01:43,880 Speaker 2: to that number coming down. 37 00:01:44,120 --> 00:01:46,320 Speaker 1: What do you say to Gareth Kernon who says Informetrics, 38 00:01:46,360 --> 00:01:47,960 Speaker 1: who goes this has got a touch of the day, 39 00:01:48,040 --> 00:01:49,880 Speaker 1: jabou about it? A lot of talk, lot of hype, 40 00:01:49,920 --> 00:01:52,040 Speaker 1: lot of noise, a few bits and pieces around the edges, 41 00:01:52,040 --> 00:01:52,920 Speaker 1: but it's an apparition. 42 00:01:54,240 --> 00:01:57,600 Speaker 2: Well, what I'd say is we have been waiting for 43 00:01:57,680 --> 00:02:01,240 Speaker 2: an economic recovery and there is some payas, but all 44 00:02:01,280 --> 00:02:05,000 Speaker 2: of the signs are there, and those fifteen thousand more 45 00:02:05,080 --> 00:02:08,880 Speaker 2: jobs that have been created. That's Kiwi's in work where 46 00:02:09,040 --> 00:02:11,480 Speaker 2: businesses have felt the confidence to say, actually, we're going 47 00:02:11,520 --> 00:02:13,919 Speaker 2: to up our hiring, We're going to create some more roles. 48 00:02:13,960 --> 00:02:17,000 Speaker 2: And that's exactly what we want to see. And we 49 00:02:17,080 --> 00:02:20,480 Speaker 2: are seeing businesses saying as they look forward, they are saying, Yep, 50 00:02:20,520 --> 00:02:22,320 Speaker 2: we're going to create some more jobs. We're going to 51 00:02:22,320 --> 00:02:25,200 Speaker 2: increase the head count in our firm because there's demand 52 00:02:25,280 --> 00:02:28,519 Speaker 2: out there in the economy. So those are just downabashedly 53 00:02:28,840 --> 00:02:31,800 Speaker 2: good things and it's pretty broad based. We're seeing employment 54 00:02:31,840 --> 00:02:36,079 Speaker 2: increasing and manufacturing, construction, professional services. 55 00:02:36,160 --> 00:02:37,720 Speaker 1: Well I was going to argue with you on that. 56 00:02:37,760 --> 00:02:39,320 Speaker 1: I mean, yes, you're right on that part of it. 57 00:02:39,360 --> 00:02:41,840 Speaker 1: But Auckland, Wellings and Wycata up towards six of not 58 00:02:41,960 --> 00:02:44,480 Speaker 1: past six percent of the cities don't fire, the country 59 00:02:44,480 --> 00:02:45,040 Speaker 1: doesn't fire. 60 00:02:46,160 --> 00:02:51,320 Speaker 2: There's considerable regional variation. Canterbury's had a big reduction in 61 00:02:51,360 --> 00:02:55,840 Speaker 2: its unemployment rate, huge job creation going on there, whereas 62 00:02:55,880 --> 00:02:57,880 Speaker 2: you are seeing it more mixed in other areas. The 63 00:02:57,960 --> 00:03:03,120 Speaker 2: number of people working in administration, public administration roles and 64 00:03:03,280 --> 00:03:07,120 Speaker 2: councils and government that's not increasing as fast as the 65 00:03:07,160 --> 00:03:10,480 Speaker 2: private sector economy. And actually, I want to see that 66 00:03:10,560 --> 00:03:13,560 Speaker 2: private sector economy growing. That's why we're doing those fast 67 00:03:13,600 --> 00:03:17,040 Speaker 2: track projects so that we do have big projects happening 68 00:03:17,280 --> 00:03:20,680 Speaker 2: which have people behind spades, have people and diggers, have 69 00:03:20,800 --> 00:03:23,440 Speaker 2: people working away on new activity in the economy. So 70 00:03:23,919 --> 00:03:26,720 Speaker 2: that is gaining momentum and we need that momentum to 71 00:03:26,760 --> 00:03:27,720 Speaker 2: continue through the year. 72 00:03:28,040 --> 00:03:29,520 Speaker 1: Nice to talk to you, have a good weekend, Nichola 73 00:03:29,520 --> 00:03:32,480 Speaker 1: willis One. It's minister who I'm as suspected, probably still 74 00:03:32,480 --> 00:03:33,680 Speaker 1: the whiting For 75 00:03:33,800 --> 00:03:36,520 Speaker 2: More from the my CA Asking Breakfast, Listen live to 76 00:03:36,640 --> 00:03:39,680 Speaker 2: news talks that'd be from six am weekdays, or follow 77 00:03:39,720 --> 00:03:41,280 Speaker 2: the podcast on iHeartRadio.