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xottOP•

  • Jobseekers at 189k, as of last friday. 30k added during April - 1000 per day almost. Treasury predicting 9.8% unemployment as the peak.

  • Retail spending showing a big recovery, Eftpos spend nearly back to pre-covid19 levels. Treasury says "The apparent bounce-back in consumer spending may be only temporary, as unemployment and falling asset values are likely to depress consumer spending for some time"

  • "Supermarket and grocery volumes rose 8.5% and liquor sales rose 6.1% in the quarter, as people stocked up ahead of lockdown". March quarter.

  • Biggest ever monthly trade surplus was in April. Already annual trade deficit is at a 5yr low.

Something screwy with HTML version of the weekly update, maybe not properly updated yet. The complete pdf is here
https://treasury.govt.nz/sites/default/files/2020-05/WEU-29May2020.pdf

6
classclownfreshman•

We need to flatten that unemployment curve.

6
catchaway911•

Unemployment figures look optimistic but difficult to know what scenario they have simulated, with govt intervention difficult to predict particularly ahead of election.

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