High dollar killing Kiwi jobs
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06/10/2012. 11:30
KoreaPost
The loss of 40 more highly skilled, high paid manufacturing jobs due to the high dollar, this time at the Christchurch Engine Centre, highlights the urgent need for action on monetary policy, Green Party Co-leader Dr Russel Norman said today.
The Christchurch Engine Centre, which overhauls jet engines, cited the effect of the high dollar on its bottom line as the reason that up to 40 skilled jobs are being cut. Nearly 40,000 manufacturing jobs have been lost in the past four years according to the Quarterly Employment Survey.
“New Zealanders are suffering as the high dollar destroys jobs and wreaks havoc with our manufacturing sector,” said Dr Norman.
“The National Government refuses to do anything about the high dollar. Their message to these 40 workers and their families is ‘tough luck’. It’s not good enough.
“New Zealand urgently needs action to bring down our dollar to fair levels so that manufacturers can compete and create jobs.
“The National Government is stuck in an outmoded belief that the market always knows best, even as our trading partners interfere in the market to lower their currencies and raise ours.
“Being a pacifist in a currency war just means that New Zealand takes all the punishment, and New Zealanders keep losing their jobs,” said Dr Norman.
The Christchurch Engine Centre, which overhauls jet engines, cited the effect of the high dollar on its bottom line as the reason that up to 40 skilled jobs are being cut. Nearly 40,000 manufacturing jobs have been lost in the past four years according to the Quarterly Employment Survey.
“New Zealanders are suffering as the high dollar destroys jobs and wreaks havoc with our manufacturing sector,” said Dr Norman.
“The National Government refuses to do anything about the high dollar. Their message to these 40 workers and their families is ‘tough luck’. It’s not good enough.
“New Zealand urgently needs action to bring down our dollar to fair levels so that manufacturers can compete and create jobs.
“The National Government is stuck in an outmoded belief that the market always knows best, even as our trading partners interfere in the market to lower their currencies and raise ours.
“Being a pacifist in a currency war just means that New Zealand takes all the punishment, and New Zealanders keep losing their jobs,” said Dr Norman.