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Developing a labour utilisation composite index for New Zealand

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This Note presents a labour utilisation composite index (LUCI) for the New Zealand economy. We use principal component analysis to extract the underlying movements from a set of seventeen labour market variables. The LUCI fits the New Zealand business cycle well, and is particularly useful in situations when different labour market variables give contradictory signals, or when individual labour market variables have idiosyncratic movements.

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  • Jed Armstrong & Günes Kamber & Özer Karagedikli, 2016. "Developing a labour utilisation composite index for New Zealand," Reserve Bank of New Zealand Analytical Notes series AN2016/04, Reserve Bank of New Zealand.
    • Handle: RePEc:nzb:nzbans:2016/04
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    1. Viv B. Hall & C. John McDermott, 2011. "A quarterly post-Second World War real GDP series for New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 45(3), pages 273-298, March.
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    1. Sirot, Guilhem & Unal, Umut & Maialeh, Robin, 2024. "Inflationary dynamics of labour market activity: Evidence from the Czech Republic," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1309-1327.
    2. Martin Hodula & Simona Malovana & Jan Frait, 2019. "Introducing a New Index of Households' Macroeconomic Conditions," Working Papers 2019/10, Czech National Bank, Research and Statistics Department.
    3. Katerina Arnostova & Oxana Babecka Kucharcukova & Jan Babecky & Marek Benda & Sona Benecka & Jan Bruha & Jaromir Gec & Dana Hajkova & Petr Hlavac & Eva Hromadkova & Martin Kabrt & Lubos Komarek & Zlat, 2021. "Analyses of the Czech Republic's Current Economic Alignment with the Euro Area 2021," Occasional Publications - Edited Volumes, Czech National Bank, Research and Statistics Department, number as21 edited by Katerina Arnostova & Vojtech Molnar.

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