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New Zealand’s labour market is a mess.
The nation’s unemployment rate ballooned to 4.8% in Q3 2024, up 0.9% year-on-year.
Filled jobs fell by 0.7% in Q3, the second consecutive quarterly decline. Filled jobs also recorded their first annual decline in more than a decade.
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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.