Weekly Digest – 8 February 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

New Zealand’s jobless rate rises to 3.4% in the fourth quarter

New Zealand’s jobless rate rose to 3.4% in the fourth quarter, even though employment increased 0.2% in the same period.

Property prices dropping at a rate not seen since the financial crisis

A report from CoreLogic shows house prices dropped another 0.3% in January, marking the tenth consecutive month of falling prices. Over the year, house prices dropped 7.2%, the biggest 12-month decline since 2008-2009.

Household living-costs price indexes: December 2022 quarter

The cost of living has increased again, with an annual jump of 8.2 percent seen across all households from December 2021 quarter to December 2022 quarter. Meanwhile, the increase across all households was 1.6 percent from September 2022 quarter to December 2022 quarter.

New Zealand investigates 777 landing control loss amid heavy rain

New Zealand safety officials are investigating a “loss of control” incident that occurred as an AirNZ Boeing 777-300ER landed at Auckland International Airport on Friday, 27 January 2023. The plane lost directional control after touchdown and veered from the runway centreline. Fortunately, the pilot regained control and completed the landing.

Fears of worsening egg shortage in New Zealand as fire kills 75,000 hens at farm

An estimated 75,000 hens died in a fire at New Zealand’s largest egg producer, leading to concerns about an egg shortage. The egg shortage began at the start of the year, with a ban on battery farming that saw egg production drop 10%.

Measles warning for NZ flight passengers after case discovered

The Ministry of Health has warned that New Zealand passengers on a flight from Abu Dhabi to Melbourne in January may have been exposed to measles. Anyone who was on international flight ETD426/EY462 from Abu Dhabi to Melbourne arriving at 6 am 28 January and then flew on to New Zealand to contact Healthline if they have not spoken with authorities. A person in Australia with measles has been linked to the flight.

Former top police officer to lead probe into Auckland flood response

Former police commissioner Mike Bush will lead an independent review of Auckland Emergency Management’s initial response to the Auckland floods. The review team will look at how well placed the emergency response was, how it responded in the initial one to two days, and whether a state of emergency should have been declared sooner.

Shipping delays are costing business $1.7 billion in lost revenue a year

Supply chain consultancy group TMX Global found shipping delays linked to Covid-19 restrictions, the invasion of Ukraine, and climate change cost New Zealand businesses $1.7 billion in lost revenue a year. The government has announced an investigation into supply chain disruptions.

New Zealand announces $700,000 in additional flood support as cleanup begins

New Zealand’s government has announced an additional $700,000 in funding to help rebuild areas that were ravaged by recent flooding. Auckland and areas of New Zealand’s upper North Island experienced record rainfall. Four people died in the flooding, communities were cut off, and landslides resulted in road closures.

New Zealand dollar slips on signs of cracks in labour market

The New Zealand dollar fell as New Zealand’s jobless rate increased slightly.

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