KEY POINTS:
Employment confidence slipped from a three-year high late in 2007, but still remained buoyed by a favourable labour market, according to the Westpac/McDermott Miller employment index.
Increased business pessimism and world market uncertainty appeared to be eating into confidence about job security and opportunities, and there was concern about future earnings in the rural sector, said Westpac economist Donna Purdue.
However, overall earnings expectations were near record highs, the labour market remained tight and earnings growth was strong.
"Against this backdrop, it is not surprising that a large majority of respondents continue to believe that jobs are plentiful, that job security is good, that they are earning more than a year ago, and expect to be earning more in a year's time," Purdue said.
The index fell to 133.5 in the three months ended December, from the September quarter's three-year high of 135.9.
A reading above 100 points indicated optimists outnumbered pessimists.
Five of 11 regions recorded falls in confidence - Auckland, Northland, Gisborne, Waikato and Canterbury.
- NZPA
