Wage inflation picks up as labour demand improves

Key highlights Q4 private-sector wage inflation surprisingly strong. Wage inflation likely to remain relatively subdued over 2012, although pockets of strength emerging. We expect Thursday’s HLFS to show a 0.5% increase in employment, and an unemployment rate of 6.4%.     Report prepared by: Jane Turner ASB Economist Phone: +64 9 301 5660 Fax: +64 9 302 0992