Category: Social Trends

New Zealanders Are Working More But Earning Less In Real Terms!

Interesting data from Statistics New Zealand today on employment and wages today. They show that New Zealand unemployment unexpectedly rose from a record low in the second quarter but wages rose at the fastest pace in 14 years – though still well below inflation – suggesting the central bank may need to keep raising interest rates aggressively to tame inflation.

The jobless rate climbed to 3.3% from 3.2% in the first quarter, which was the lowest level since records began in 1986. Economists expected a decline to 3.1%. Employment was unchanged from the previous three months. The underutilisation rate was 9.2 percent, compared to 9.3 percent in the March 2022 quarter.

Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, the fastest since 2008 and up from 3.0 percent in the year ended March 2022, while average ordinary time hourly earnings rose 6.4 percent. While wages have lifted over the past year, annual consumer price inflation has exceeded annual wage inflation over the same period. The consumers price index (CPI) increased 7.3 percent in the year ended June 2022.

Go to the Walk The World Universe at https://walktheworld.com.au/

Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.

Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

FINAL REMINDER DFA Live Q&A David Llewelln-Smith: Fixing Energy Now – 8pm Sydney Tonight

Join us for a live discussion about the current state of economics and politics, with a focus on the busted energy markets with David Llewelln-Smith Chief Strategist at @NucleusWealth and founding publisher and editor for @Macro_business. You can ask a question live.

Go to the Walk The World Universe at https://walktheworld.com.au/

Its Edwin’s Monday Evening Property Rant!

My latest Monday evening chat with our property insider Edwin Almeida. We look at the latest from China, consider the rise in chickens at Edwin’s place, and reflect on the resignation of a Building Reform champion.

Plus the latest on the numbers, and a discussion on land banking. And you can play spot the pussy cat… somewhere through the show.

https://www.ribbonproperty.com.au/

Go to the Walk The World Universe at https://walktheworld.com.au/

First Take: Mortgage Stress July 2022

This is a first take on the latest results from our models, which shows a further rise in mortgage and rental stress (defined in cash flow terms) across Australia. We examine the high-level results by state, segment and post code, and also present the latest stress heat maps, which highlight the growth of pressure in the newly developed zones across the country, as well as in some regional communities. Stress has risen thanks to rising costs of living, increasing mortgage and rents, while real incomes continue to fall.

We also include some suggestions as to how to manage stress. Call the National Debt Helpline on 1800 007 007 for free and confidential advice from professional financial counsellors. But be careful of those offering advice for a fee, it is big business, and many who are struggling are being conned.

Go to the Walk The World Universe at https://walktheworld.com.au/

Its Edwin’s Monday Evening Property Rant!

Edwin Almeida, our Property Insider joins us through another ramble through the latest property news, including rooster cam, news from China, and the latest in listings numbers. We also look at the latest articles and consider the impact of the recent rains on high-rise property in particular. Go to the Walk The World Universe at https://walktheworld.com.au/

Higher Rates, And Risk Of Recession, As Weaker Lending Is Expected

We look at the latest data as forecasters indicate a rise in mortgage rates as the RBA tackles inflation, leads to reduced lending, and risks of stagflation or recession.

Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Operation Anti-spruik Episode 5: Western Australia!

More analysis of recent price changes for property – this time in the West, and again strong correlation with high levels of mortgage stress. Thanks for Cookie Boy for doing the research.

We focused on more affordable houses, and spruikers note, prices are down.

Go to the Walk The World Universe at https://walktheworld.com.au/

Games People Play When Passing The Buck: A New Zealand Case Study…

Have you noticed how everyone is now trying to pass the buck for the failed monetary policy, the disastrous results of which were magnified by the COIVD response. Politicians are pointing to the Central Bank.

Central Bankers point to conflict between Ukraine and Russia, and then also point to the COVID caused supply chain disruption (which was largely created by households and businesses suddenly being given cash to buy stuff, creating high demand as the lockdowns took a toll.

In effect no-one in authority wants to accept they helped create the problems we are now facing. And because of that reflex, we may not get to first understand the root causes which created the issues, and so how to address them correctly, and avoid similar issues down the track.

On just this theme, Bernard Hickey wrote an interesting piece on the New Zealand Site interest.co.nz titled “Reserve Bank may have lots of good company in the money-printing dog box, but that doesn’t let it or the Government off the hook on inflation”

Go to the Walk The World Universe at https://walktheworld.com.au/

Making Banking Work… For People!

I discuss the creation of Kiwi Bank, a National Bank In New Zealand with one of its architects Hon Matt Robson.

Matt Robson’s commercial experience began in the Netherlands thirty years ago, working in the oil industry. This introduced him to the rigours of international commerce, budgets, deadlines, understanding complex commercial operations and structures, it also gave him management experience and familiarity of working with a multicultural, multilingual workforce, where reading and writing in foreign languages was a necessity. As a result he is fluent in speaking reading and writing Dutch, speaking and writing French and German and competent in reading Spanish.

In the 1970’s Matt qualified with a Diploma in Teaching and taught through the 1980’s in a number of secondary schools in New Zealand the majority in the South Auckland area.

In the 1980’s-1990’s Matt became engaged in party politics. As deputy leader of both the Alliance and Progressive Parties he acted as spokesperson and policy developer across a wide spectrum of policy issues in areas as diverse as economic development, social matters and international affairs.

Matt was a Cabinet Minister in the Labour-Alliance Coalition Government (1999-2002) and was allocated the following portfolios: Minister of Corrections , Minister for Land Information, Associate-Minister of Foreign Affairs (responsible for official Overseas Development Aid [ODA]), Minister for Disarmament and Arms Control.

He was also a significant driver in achieving justice for Algerian asylum seeker Ahmed Zaoui, both while as a Member of Parliament and as an independent barrister/solicitor.

He continues to practice law in Auckland and specialises in immigration law and migrant advocacy. Matt remains active in advocating global peace and justice and is a regular speaker at disarmament and anti-nuclear conferences around the world.

Go to the Walk The World Universe at https://walktheworld.com.au/