New Zealand Jobless Rate Rises to 5.7% in Q4

New Zealand unemployment rate increased to 5.7 percent in the December 2014 quarter, while the labour force participation rate reached a record 69.7 percent.

Employment didn’t keep up with the record number of people entering the labour force, so even though employment growth was also strong over the quarter, the unemployment rate increased. 

Annually, the number of people employed rose 3.5 percent to 2,375 Million in the Household Labour Force Survey (HLFS). While Auckland and Canterbury remain key contributors to national employment growth, employment growth in Canterbury eased in the year to the December 2014 quarter compared with previous quarters.

In the Quarterly Employment Survey (QES), the number of filled jobs reported by businesses rose 2.5 percent.

Annual wage inflation, as measured by the labour cost index (LCI), increased 1.8 percent, compared with annual consumer price inflation of 0.8 percent. Average hourly earnings (QES) rose 2.6 percent over the year.

New Zealand Jobless Rate Rises to 5.7% in Q4

Statistics New Zealand |
2/3/2015 10:24:47 PM