Wishing you all a very Merry Christmas.

It has been great to have you as mentoring students of mine, or as part of my audience for another year.  This year has been filled with challenges in terms of the increasing unemployment rate, the large storm clouds of uncertainty over our heads at the beginning of the year, and house price drops in certain areas of New Zealand in the earlier parts of the year.  However there was very good news with further big cuts to the OCR by the Reserve Bank of New Zealand, getting the benefit of lower interest rates, as well as strong net migration into New Zealand, and house price recoveries in most parts of the country.

We are not out of the woods yet, and their may be further unemployment, more so for unskilled workers, and recent university and polytechnic graduates will still find it harder to get employment in 2010.  However this will change, as we exit the downturn and move through the recovery phase of this economic cycle.

I am looking forward to Christmas tomorrow with my 91 year old Grandmother, her 92 year old best friend, my parents, my wife, my 1 year old son, and my aunt and uncle out from Australia.  Hopefully I can skype my younger sister who will be in Berlin if the airport re-opens after all the snow and ice in freezing cold London recently.

I trust that you all have a fantastic Christmas, and enjoy your break.

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