KEY POINTS:
New Zealand workers grew in confidence last quarter, taking the Westpac McDermott Miller Employment Confidence Index to an 18-month high.
This follows the first increase in confidence in almost two years in the previous quarter. The index increased to 130.8 between October and December, from 126.7.
A number above 100 indicates optimists outnumber pessimists.
"Employees continue to remain firmly optimistic about the current employment situation, reflecting the tight labour market," said Westpac chief economist Brendan O'Donovan.
The survey, and other labour market indicators, indicated continued strength in consumer spending this year, O'Donovan said.
The biggest improvement was in current earnings - a net 41.9 per cent of respondents earned more now than they did a year ago, up from 35 per cent in September.
Employees were also more confident about earnings and job opportunities in a year and job security.
But the number of respondents thinking jobs were plentiful fell to a net 48.4 per cent from 49.4 per cent in September.
O'Donovan said the survey followed a rise in the consumer confidence index before Christmas, and was likely to add to pressure on the Reserve Bank to increase interest rates soon.
The Reserve Bank will next consider whether to increase the official cash rate on January 25.
- NZPA
