‘Job growth last’
By
Pattrick Smellie
in Wellington
Job growth would be one of the last results of renewed economic growth, said the Minister of Finance, Mr Douglas, yesterday. Predicting an upturn in economic activity next year, he said, “In general, companies initially focus on rebuilding stocks to meet demand, and then ask staff to work overtime, before they employ new workers.” Some sectors were still adjusting and further job losses were likely in areas such as meat processing, shipping and ports. The outcome of this year’s wage round remained important for recovery. In his speech to the Waikato Manufacturers’ Association, Mr Douglas repeated calls for moderation in wage settlements. Wage increases based on seven per cent inflation next year risked delaying economic recovery. “Producers are still free to cut their own throats if they insist on doing so,” he said.
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Press, 3 November 1988, Page 1
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141‘Job growth last’ Press, 3 November 1988, Page 1
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