The Fiji National Provident Fund has reported an increase in registered employees and also an increase in their average wages.
This is stated in the Reserve Bank of Fiji’s May Economic Review.
The RBF states monitored indicators point toward continued gradual easing of tight labour market conditions.
“Labour demand continues to contract evident by a decline (- 7.1%) in job advertisements in the year to April,” said the RBF.
“This may be influenced by several factors including the absence of advertisements from exempt companies for labour importation.
“A notable decline in resident departures for work (-49.6%)9 and education and training (-28.8%) until April, has improved supply somewhat, reducing the need to replace workers.’
“In addition, preliminary Quarter 1 data from the Fiji National Provident Fund (FNPF) shows that the number of registered employees and their wages have, on average, increased by close to 3.0 percent and 10.0 percent, respectively.’
RBF adds employment and wage growth coupled with an inflow of remittances continue to support households’ ability to spend.
