Glossary of Terms and Sources
| Indicator |
Measure |
Source |
Date |
Definition |
| Economic Growth |
Gross Domestic Product |
Stats NZ, National Accounts |
Dec 2011 |
Production measure, seasonally adjusted chain-volume series expressed in 1995/96 prices |
| Labour demand |
Employment |
Stats NZ , Household Labour Force Survey (HLFS) |
Mar 2012 |
Seasonally adjusted, number of people in employment in the working-age population |
| Employment by industry |
HLFS |
Mar 2012 |
Employment by industry (ANZSIC 2006) |
| Full-time/part-time employment growth |
HLFS |
Mar 2012 |
Full time = 30 hours per week or more. Figures are not seasonally adjusted. |
| Consensus forecasts |
NZ Institute of Economic Research, |
Mar 2012 |
An average of New Zealand economic forecasts compiled from a survey of financial and economic agencies |
| Employment by region |
HLFS |
Mar 2012 |
Seasonally adjusted, number of people in employment by region |
| Labour market matching |
Unemployment rate |
HLFS |
Mar 2012 |
Seasonally adjusted, unemployment/total labour force |
| Unemployment by gender and ethnicity |
HLFS |
Mar 2012 |
Unemployment rate by ethnicity for total response ethnic group. Long-term unemployment (more than 6 months) excludes duration not specified. |
| Youth NEET |
HLFS |
Mar 2012 |
Seasonally adjusted, people aged 15-24 Not in Employment, Education or Training (includes those caring for children or others) |
| Job vacancies |
Dept of Labour, Jobs Online |
Mar 2012 |
Skilled Vacancies Index - seasonally adjusted series of advertised vacancy growth on the main internet job boards. |
| Vacancies per applicant |
SEEK Employment Index |
Feb 2012 |
Seasonally adjusted series of change in the number of vacancies per applicant on the SEEK internet job board. As the index goes up there a fewer applicants for each vacancy and is consistent with a fall in surplus labour. |
| Difficulty finding skilled labour |
QSBO |
Mar 2012 |
Difficulty in finding the skilled staff you want today compared with three months ago - % of firms finding it harder minus % of firms finding it easier – a score above zero indicates it is getting harder to find skilled staff. |
| Unemployment by region |
HLFS |
Mar 2012 |
Unemployment rate by region |
| Labour supply |
Labour force participation rate |
HLFS |
Mar 2012 |
Seasonally adjusted, total labour force/working age (15+) population |
| Migration |
Stats NZ, International travel and migration |
Mar 2012 |
Net permanent and long-term (+12 months) migration per year |
| Departures to Australia |
Stats NZ, International travel and migration |
Mar 2012 |
Total permanent and long-term departures to Australia per year |
| Retirement rate |
Stats NZ, Dept of Labour |
May 2010 |
Dept of Labour calculations of the net number of people aged 50 years and over who will leave the labour force each year based on Stats NZ medium labour force projections (series 5M) |
| Immigration Approvals |
Dept of Labour, Migration Trends & Outlook |
Dec 2011 |
Previous year and year-to-date number of people approved to work under the Essential Skills Policy |
| Participation rate by region |
HLFS |
Mar 2012 |
Participation rate by region. |
| Workforce quality |
Degree holders |
Dept of Labour estimates based on HLFS |
Dec 2011 |
Number of people with a Bachelor's degree or higher aged 15-64 years/total population aged 15-64 years |
| 25 to 34 year olds with level 4 or higher qualification |
Ministry of Education |
2011 |
Number of 25 to 34 year olds first time completions of a qualification at NCEA level 4 or above |
| Industry training credits attained |
Ministry of Education (Education Counts) |
2010 |
Total number of industry training credits attained during the year. |
| School leaver qualifications |
Ministry of Education (Education Counts) |
2010 |
Highest Attainment of School Leavers 2005-2008 - NQF and Non-NQF combined, School leaver statistics, table 7a |
| Workplace quality |
High quality (skilled) jobs |
Dept of Labour, Direct Estimate of Employment (DEE) |
Dec 2011 |
Number of people employed in a skilled occupation (ANZSCO level 1-3)/ total number of employed people |
| Annual wage growth |
Stats NZ, Labour Cost Index (LCI) |
Mar 2012 |
All salary and wage rates |
| Work related injuries |
Stats NZ, Injury Statistics |
2010 |
Incidence rate = number of claims for work-related injuries per1,000 Full-Time-Equivalent employees |
| Labour market efficiency |
World Economic Forum, annual Global Competitiveness Report |
2011 |
Measure based on an international opinion survey of business executives, incorporating “cooperation in labour-employer relations, flexibility of wage determination, rigidity of employment, hiring and firing practices, firing costs, pay and productivity, reliance on professional management, brain drain and female participation in the labour force.” |
| Employment confidence |
Westpac McDermott Miller Employment Confidence Index (survey of employees) |
Mar 2012 |
Index based on measures of employee perceptions of future job prospects, job security and earnings growth: index is net measure of positive and negative perceptions, 100 = neutral |
| Capital investment |
Real fixed capital investment (non-residential) |
Stats NZ, National Accounts |
Dec 2011 |
Fixed Assets other than Residential Buildings, Capital A/C, Gross Fixed Capital Formation by Asset, Seasonally Adjusted Constant (1995/96) prices (Quarterly-Mar/Jun/Sep/Dec) |
| Consensus investment growth forecasts |
NZIER Consensus Forecasts |
Mar 2012 |
Forecast percentage change in real fixed capital formation (residential and other) are for March years |
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