Employment confidence has bottomed out. 

The Westpac-McDermott Miller index shows it's slipped to a level not seen since the post-2020 Covid lockdowns. 

It's fallen in four of 11 regions —including Auckland— which dominated the national average. 

EMA Head of Advocacy Alan McDonald told Mike Hosking business is still doing it hard, directly impacting the ability to hire and expand. 

He says more than 60% of firms let staff go within the last year. 

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