New Zealand: Unemployment rate holds steady in Q1
May 6, 2015
In the first quarter of 2015, the economy added 16,000 new jobs in seasonally-adjusted terms, which followed the 28,000 jobs created in Q4 2014. Q1’s job creation was the weakest since June 2014.
Despite the gain in new jobs, the seasonally-adjusted unemployment rate remained stable at 5.8% in Q1 as labor force participation increased and hit an all-time high. The reading did not meet market expectations of the unemployment rate falling to 5.5%.
Author: Eric Denis , Economist