In the fourth quarter, the economy shed 11,000 jobs in seasonally adjusted terms, which contrasted the 23,000 jobs added in the third quarter. The quarterly reading represented the greatest job loss since the third quarter of 2009. The labour market deterioration was mainly the result of a loss in part-time jobs (-14,000 jobs), and a gain in full-time positions (+5,000 jobs) was not enough to offset this decline. As a result of labour market deterioration in the final quarter of 2010, the unemployment rate rose to a seasonally adjusted 6.8% from 6.4% in the third quarter, which exceeded private sector analysts' expectations of a 6.5% increase. According to its December monetary policy statement, the Reserve Bank of New Zealand anticipates the unemployment rate will end the fiscal year 2010 (ending March 2011) at 6.4% and will fall further to 5.5% in fiscal year 2011.
New Zealand Unemployment
Unemployment rate rises on the back of part-time job losses
February 4, 2011
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New Zealand Economic News
October 19, 2016
In Q3, consumer prices edged down from the quarter-on-quarter seasonally-adjusted 0.4% increase observed in Q2 to 0.2%.
September 30, 2016
Economic sentiment among New Zealand businesses rebounded in September after declining for two consecutive months.
September 22, 2016
At its meeting held on 22 September, the Reserve Bank of New Zealand (RBNZ) decided to keep the Official Cash Rate (OCR) at 2.00%.
September 19, 2016
New Zealanders’ confidence rose in Q3 after having deteriorated in the previous two quarters.
September 15, 2016
GDP grew a seasonally-adjusted 0.9% over the previous quarter in Q2, which matched the result tallied in Q1.