“Going gangbusters” says mayor, welcoming city’s 2.5% economic growth

News from WCC
Strong economic growth and a falling unemployment rate in Wellington are reported in the latest Infometrics Quarterly Economic Update – economic growth increased to 2.5% in the year to June, up from 2.2% in the year to March. Unemployment fell to 4.6%.

“Wellington is going gangbusters,” Wellington Mayor Justin Lester says. “It’s great to see a strong run of growth continuing. Good, high-paying jobs are a part of what attracts people to Wellington, and they are vital for a growing city.

“This report also shows Wellington is making good progress on housing with a 42% increase in the number of new residential consents in the past year. Affordable, accessible housing is a key priority for our city and it’s good to see we are making progress at increasing the supply of homes.”

Wellington City Council’s Economic Development Portfolio Leader, Councillor Simon Marsh, says the growth is broad-based across a range of different sectors, but retail spending has had a particularly strong increase.

“Electronic card spending on retail sales increased by 2.1% over the year to June, when compared to the previous year. That’s despite the November earthquake and the related business closures and temporary closures.

“This is another sign that Wellington’s businesses are resilient and have bounced back strongly from the earthquake. It’s a real credit to Wellington’s business people to post this result despite all the challenges they have faced.”

Along with the increase in the number of people in jobs, the rate of people on jobseeker benefits in the capital fell by 4.1%.

 

3 comments:

  1. Troy H, 23. August 2017, 19:34

    “Gangbusters” really? No affordable housing in sight. Wellington is not even meeting housing needs for the influx of immigrants or for the evicted poor Housing NZ tenants.

     
  2. Mark Shanks, 24. August 2017, 8:27

    Maybe it’s going gangbusters for the biggest gangs in town – developers, banks and insurance companies – all aided and abetted by our council.

     
  3. Concerned Wellingtonian, 24. August 2017, 13:00

    The policy of putting “growth” before happiness does all citizens who already live here a very dodgy service. How exactly is the policy justified?

     

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