Australia & New Zealand
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Border reopening won’t ease labour shortages much

Australia’s government isn’t keen on opening the immigration floodgates once the border reopens to migrants next year and we still expect the unemployment rate to fall to 4% by 2023. Nor do we expect migration to ease labour shortages in New Zealand much next year. Nonetheless, New Zealand’s labour market is already very tight and with the RBNZ set to keep tightening monetary policy, we expect unemployment to creep higher over the next couple of years.
Marcel Thieliant Senior Japan, Australia & New Zealand Economist
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25 January 2022

Australia & New Zealand Data Response

Australia Consumer Prices (Q4 2021)

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25 January 2022

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Australia & New Zealand Data Response

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Australia & New Zealand Data Response

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Japan Data Response

Japan Flash PMIs (Nov. 2021)

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