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International Monetary Fund. Asia and Pacific Dept

The Uneven Impact of the Pandemic on New Zealand’s Labor Market 1 While the pandemic’s impact on New Zealand’s labor market has been relatively mild by international comparison, it has disproportionately affected the youth, female workers, and some ethnic groups. The pandemic could thus lead to scarring and aggravate already relatively high inequality. Strong labor market policy support, including training and hiring subsidies, is warranted to facilitate the reallocation of workers affected by the pandemic . A. Introduction 1. The pandemic has had an

International Monetary Fund. Research Dept.

specific labor market policies could help reduce unemployment in addition to pursuit of conventional macroeconomic and financial policies, encouragement of wage flexibility, and general improvements to labor market institutions. For economies with lingering macroeconomic uncertainty, but where labor productivity remains strong, targeted and temporary hiring subsidies may help advance employment creation. In countries with large short-time work programs, ending these, along with carefully designed wage-loss insurance programs, could help facilitate movement of labor