The COVID-19 pandemic will see very few winners. We will all come out poorer and worse off, but some will lose more than others. Low skilled workers, young workers, Māori and Pacifica workers are more vulnerable and likely to be hardest hit. These effects will exacerbate existing inequalities.
For the past few months, the Infometrics team has been fully occupied with modelling the effects of the pandemic on the national economy, and on the local economies and individual operations of our clients.
In this article, Alistair Schorn takes a closer look at Infometrics Wellbeing Framework developed in 2019 to evaluate the wellbeing of New Zealand’s communities.
Infometrics welcomes Senior Economist Alistair Schorn . Alistair joined Infometrics in February and it feels like a lot has happened since then!
The latest Infometrics Quarterly Economic Monitor shows the first signs of New Zealand’s economic slowdown as the COVID-19 pandemic and recession changes the way that businesses, households, and government operates.
We will be hosting regular webinars (web seminars) for our clients. If your organisation would like to book a tailored Webinar, focused on your local area, sector or industry, we have time slots available.
The COVID-19 pandemic is causing economic chaos both internationally and in New Zealand. A recession is now inevitable, and the economic ramifications of the pandemic and response will substantially change people’s livelihoods. However, New Zealand is resilient and stands ready to weather this pandemic, and there are actions that can be taken to reduce the severity of the economic blow.
The COVID-19 threat continues to loom over the economy, with a rise in international cases adding weight to the view that the impact will be longer than originally hoped. New Zealand exports continue to be under pressure, and now supply chain issues are becoming more worrying.
Back in August we noted that Auckland city (the urban area defined by Stats NZ) has as many people as the next 12 cities combined. We also showed a map dividing Auckland up into 12 areas with equivalent populations to the cities. Unfortunately, the map is now out of date as Stats NZ revised their population estimates in October.
Infometrics’ recent Regional Economic Profiles refresh shows that employment in 2019 across provincial New Zealand rose at a faster pace than urban growth for the first time since 2011.
The latest Infometrics Quarterly Economic Monitor suggests that regional economies may be about to turn a corner, with slight improvements in some indicators showing that renewed strength may be on the cards in 2020. However, the risks associated with the COVID-19 outbreak threatens to derail any rebound, with expectations for softer export earnings in the first half of 2020.