New Zealand's unemployment rate fell to 4.2 percent in the first quarter of 2019 from 4.3 percent in the previous period, matching market expectations and close to its 10-year low. The jobless rate dropped to a 10-year low of 4.0 percent in the quarter ending in September 2018. Unemployment Rate in New Zealand averaged 6.01 percent from 1985 until 2019, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.30 percent in the fourth quarter of 2007.

Unemployment Rate in New Zealand is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in New Zealand to stand at 4.30 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.

New Zealand Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 10:45 PM Unemployment Rate 4.5% 4.4% 4.4% 4.5%
2018-11-06 09:45 PM Unemployment Rate 3.9% 4.4% 4.5% 4.5%
2019-02-06 09:45 PM Unemployment Rate 4.3% 4.0% 4.1% 4.4%
2019-04-30 10:45 PM Unemployment Rate 4.2% 4.3% 4.2% 4.3%
2019-07-31 10:45 PM Unemployment Rate 4.2% 4.2%
2019-11-06 09:45 PM Unemployment Rate 4.40%



New Zealand Jobless Rate Falls to 4.2% in Q1

New Zealand's unemployment rate fell to 4.2 percent in the first quarter of 2019 from 4.3 percent in the previous period, matching market expectations and close to its 10-year low. The jobless rate dropped to a 10-year low of 4.0 percent in the quarter ending in September 2018.

The number of unemployed people decreased by 4 thousand to 116 thousand, reflecting 4 thousand fewer unemployed youth (15–24-year-olds), and employment went down by 4 thousand to 2.66 million. The employment rate decreased to 67.5 percent in the first quarter of 2019 (vs 67.8 percent in Q4), the lowest rate since the second quarter of 2017. The labour force participation rate declined to 70.4 percent in the March quarter from 70.9 percent in the prior period.

For women, the unemployment rate went up to 4.4 percent, up from 4.2 percent in the previous quarter while for men dropped to 3.9 percent from 4.4 percent.

The underutilisation rate declined to 11.3 percent from 12.1 percent in the last quarter of 2018.

Annual wage inflation, as measured by the labor cost index, increased to 2.0 percent in the first quarter of 2019 from 1.9 percent in the priod period, but below market forecasts of 2.1 percent, as the public sector wages advanced 1.9 percent, higher than a 1.7 percent gain in the previous quarter. Meanwhile, private sector wages rose 2.0 percent, the same pace as in the fourth quarter of 2018. On a quarterly basis, wages increased by 0.4 percent, slowing from a 0.5 percent rise in the previous period and lower than market consensus of 0.5 percent. 


Statistics New Zealand | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/1/2019 9:56:59 AM


News

New Zealand Jobless Rate Rises to 4.3% in Q4
New Zealand's unemployment rate rose to 4.3 percent in the last quarter of 2018 from an upwardly revised 4.0 percent in the previous period and above market expectations of a 4.1 percent.
Published on 2019-02-07

New Zealand Unemployment Rate Drops to Near 10-Year Low
New Zealand's unemployment rate declined to 3.9 percent in the third quarter of 2018 from a downwardly revised 4.4 percent in the previous period and well below market expectations of 4.5 percent. It was the lowest jobless rate since the second quarter of 2008.
Published on 2018-11-07

New Zealand Jobless Rate Edges Up in Q2
New Zealand's unemployment rate went up to 4.5 percent in the second quarter of 2018 from 4.4 percent in the previous period, surpassing market expectations of 4.4 percent. The slight rise in the jobless rate follows five consecutive falls. Still, it remains close to the nine-year low of 4.4 percent seen in the previous quarter.
Published on 2018-08-01

New Zealand Jobless Rate Falls to 9-Year Low in Q1
New Zealand's unemployment rate edged down to 4.4 percent in the first quarter of 2018 from 4.5 percent in the previous period, matching market expectations.
Published on 2018-05-02



New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.20 4.30 11.20 3.30 percent [+]
Employed Persons 2658.00 2662.00 2662.00 1499.00 Thousand [+]
Unemployed Persons 116.00 120.00 189.00 69.00 Thousand [+]
Employment Change -0.20 0.10 2.60 -1.80 percent [+]
Labor Force Participation Rate 70.40 70.90 71.00 63.00 percent [+]
Labour Costs 1185.00 1179.00 1185.00 700.00 Index Points [+]
Productivity 123.02 122.43 126.86 86.54 Index Points [+]
Job Vacancies 198.08 195.98 200.70 55.20 Index Points [+]
Job Advertisements 44341.92 46008.12 46008.12 14139.22 [+]
Wages 32.04 31.70 32.04 13.07 NZD/Hour [+]
Wages in Manufacturing 30.64 30.00 30.64 12.44 NZD/Hour [+]
Minimum Wages 17.70 16.50 17.70 10.25 NZD/Hour [+]
Population 4.93 4.84 4.93 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 13.20 14.00 15.30 10.30 percent [+]
Part Time Employment 527.00 546.00 554.00 264.00 Thousand [+]
Employment Rate 67.50 67.80 68.20 56.40 percent [+]
Full Time Employment 2130.00 2113.00 2130.00 1177.00 Thousand [+]


New Zealand Unemployment Rate

In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.20 4.30 11.20 3.30 1985 - 2019 percent Quarterly




Country Last Previous
South Africa 27.60 Mar/19
Spain 14.70 Mar/19
Turkey 14.10 Mar/19
Brazil 12.50 Apr/19
Italy 10.20 Apr/19
Argentina 9.10 Dec/18
France 8.70 Mar/19
Euro Area 7.60 Apr/19
Saudi Arabia 6.00 Dec/18
Canada 5.40 May/19
Australia 5.20 May/19
Indonesia 5.01 Mar/19
Russia 4.70 Apr/19
South Korea 4.00 May/19
United Kingdom 3.80 Apr/19
China 3.67 Mar/19
United States 3.60 May/19
India 3.53 Dec/18
Mexico 3.50 Apr/19
Netherlands 3.30 Apr/19
Germany 3.20 Apr/19
Japan 2.40 Apr/19
Switzerland 2.30 May/19
Singapore 2.20 Mar/19


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