In the second quarter, the economy added 3,000 jobs in seasonally adjusted terms, after a revised 27,000 job gain observed in the first quarter (previously reported: +30,000 jobs), which had marked the greatest increase since the second quarter of 2008. The quarterly reading reflected gains in full-time jobs (+4,000 jobs), while part-time jobs recorded a loss (-1,000 jobs). As a result of the modest gain in the labour market in Q2, the unemployment rate remained stable at 6.5% in seasonally adjusted terms, which mirrored the development observed in Q1. The reading was broadly in line with private sector analysts expectations, which had the index rising to 6.6%. According to its June monetary policy statement, the Reserve Bank of New Zealand projects the unemployment rate to end this fiscal year (ending March 2012) at 6.6% before falling further to 5.9% in fiscal 2012.
New Zealand Unemployment
Unemployment remains steady
August 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.