New Zealand: Unemployment drops as underutilization increases in Q1
The seasonally-adjusted unemployment rate dipped to 4.7% in Q1 2021 from 4.9% in the previous quarter.
Meanwhile, the underutilization rate—which includes both unemployment and underemployment—rose to 12.2% in Q1 2021 from 11.8% in Q4 2020, therefore signaling some increase in the labor market’s untapped capacity.