Unemployment falls to a nine-year low

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Feb 07, 2018 - The seasonally adjusted unemployment rate fell to 4.5 percent in the December 2017 quarter, down from 4.6 percent last quarter, Stats NZ said today. “This quarter’s unemployment rate is the lowest since the December 2008 quarter, when it was 4.4 percent,” labour market and household statistics senior manager Jason Attewell said. “However, the underutilisation rate was just over 12 percent –reflecting about 340,000 New Zealanders with potential to work more. This measure is just as important as the unemployment rate.”

The unemployment rate for the December 2017 quarter remains considerably above New Zealand’s lowest unemployment rate, which was 3.3 percent, recorded a decade ago in the December 2007 quarter, immediately before the global financial crisis.

In the December 2017 quarter, the unemployment rate for men remained at 4.0 percent, following adjustments to last quarter’s data. By comparison, the unemployment rate for women fell to 5.0 percent, down from 5.3 percent last quarter.

Diagram, Labour market summary, December 2017 quarter.

The full article by STATSNZ can be read here || February 07, 2018 |||