New Zealand's unemployment rate rose to 4.2 percent in the first quarter of 2020 from 4.0 percent in the previous period but below market expectations of 4.3 percent. It was the highest jobless rate since the last quarter of 2018, amid the coronavirus crisis as the number of unemployed people increased by 5 thousand to 116 thousand. The unemployment rate for men went up to 4.1 percent from 3.8 percent in the prior quarter, while for women was unchanged at 4.3 percent. Meantime, the underutilisation rate jumped to 10.4 percent from an 11-year low of 10 percent in the December 2019 quarter; and the labour force participation rate increased to 70.4 percent from 70.1 percent.
Unemployment Rate in New Zealand averaged 5.95 percent from 1985 until 2020, 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. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Statistics New Zealand
Unemployment Rate in New Zealand is expected to be 8.00 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 8.50 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 7.50 percent in 2021 and 5.80 percent in 2022, according to our econometric models.