NZ unemployment bounces off 11-year low

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.

Below is the summary table:

Finally, here’s how New Zealand’s unemployment rate (4.2%) compares against Australia’s (5.2%):

Labour market conditions are certainly much stronger across the pond.

Leith van Onselen

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