On average, New Zealand performs well on several OECD How’s Life? indicators
Labour productivity is weak
Perceived corruption is low
Growth has slowed to slightly below potential
Low business confidence has contributed to weak investment
Robust external demand has supported the economy
China and Australia are key export markets
The labour market is tight
Inflation is just below the mid-point of the target band
House prices and household indebtedness have increased markedly
New Zealand is unusual in not having deposit insurance
Proposed new capital requirements exceed those in other OECD economies
Life insurance commissions are high
Government debt is sustainable, but ageing will increase fiscal pressures
The minimum wage is high relative to the median wage
Macro-financial vulnerabilities are generally lower than at the end of the last expansion
Income inequality has increased since the mid-1980s
Income inequality is above the OECD average and relative poverty rates are below
The gender gap is low for wages but high for employment
There are large inequalities in education achievement
Māori and Pasifika have shorter life expectancy than the rest of the population
The LSF Dashboard has a middling number of indicators
Environmental indicators
Emigration from New Zealand is high
Immigration is high
The share of skilled immigrants (and accompanying family) in residence approvals is one of the highest in OECD countries
Net permanent and long-term migration has been high in recent years
Immigrants in New Zealand are highly educated and their children’s education achievement is on a par with that of non-immigrants
Most low-income renters face very high housing costs
Homelessness is high and social housing stocks are low