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Statistics New Zealand has released its labour force data for the September quarter, with the unemployment rate rising 0.3% to 4.1% from last quarter’s 11-year low of 3.9%.
Below are the key points from the release:
- Unemployment rate rose to 4.2 percent.
- Underutilisation rate fell to 10.4 percent.
- Employment rate was unchanged at 67.5 percent.
- Filled jobs rose 1.1 percent.
- Average ordinary time hourly earnings rose to $32.65.
- Wage rates increased 2.4 percent annually.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.