Finsec tells BNZ: unemployment more than a statistic

Finsec said this week that BNZ economists who described 2008 unemployment as artificially low should spend time with those looking for work to better understand the full impact of being jobless.
Finsec campaigns director Andrew Campbell said unemployment was more than a statistic. “They are people struggling to support themselves and their families.”
He also said that BNZ was contributing to the problem by adding to unemployment numbers. “Between 2008 and 2009 BNZ reduced its own full time equivalent staffing numbers by 149.”
“The recent global financial crisis has taught us that we need much greater balance in our economy. BNZ and other bank economists should stop trading jobs against inflation,” said Campbell. “Getting people back into work and the economy growing should be the number one focus for bank economists.”


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