4 Other data suggest that there may be more slack in labor markets than indicated by the unemployment rate. For example, the share of the workforce that is working part time but would prefer to work full time remains quite high by historical standards.
The purpose of this presentation is to analyse New Zealand’s recovery from the recession to date, and to indicate how it might proceed. The crisis struck across almost all countries and almost all sectors. Like a virulent virus it transmitted speedily from one market to another. Some of these markets produced their own antibodies very quickly, while others sustained prolonged damage.