New Zealand Unemployment Q3 2021

New Zealand

New Zealand: Unemployment at 14-year low in Q3

November 4, 2021

The seasonally-adjusted unemployment rate fell to 3.4% in Q3 from 4.0% in the previous quarter, logging the lowest print since Q3 2007.

Meanwhile, the underutilization rate—which includes both unemployment and underemployment—declined to 9.2% in Q3 from 10.5% in Q2, therefore signaling an increase of the labor market’s capacity.

FocusEconomics panelists are still assessing the latest developments.

Author: Massimo Bassetti, Senior Economist

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New Zealand Unemployment Chart

New Zealand Unemployment Q3  2021

Note: Quarter-on-quarter seasonally adjusted and annual variation of retail sales in %.
Source: Statistics New Zealand and FocusEconomics calculations.

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