Study: Employers 'cautiously optimistic' over 2010 growth

A Hudson study has reported that employers are remaining cautiously optimistic for real signs of growth in the second half of 2010.

Marc Burrage, Executive General Manager, Hudson New Zealand, explained, “Employers are holding their line this quarter, which is a pleasing sign of stability for the slowly emerging economic recovery. Business confidence has remained upbeat throughout the first few months of 2010 and the recent results for GDP in the December quarter of 2009 show the economy is growing, albeit at a slower pace than previous recoveries.” Hudson said that all industries surveyed for the April quarter reported positive sentiment for the third consecutive quarter. It added that the South Island remained more confident with a net 26.1% of employers indicating an intention to increase permanent staff levels, while the Upper North Island has fallen back slightly. “The varying levels of confidence among employers in different regions and sectors reported last quarter remain,” continued Burrage. “It’s particularly encouraging to see the strong improvement in confidence among employers in manufacturing and the construction, property and engineering sectors. These industries were knocked really hard last year and for the last two quarters they’ve recovered significantly to confidence levels not seen since mid-2007.”