New Zealand Unemployment

New Zealand

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%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 5.2% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects the unemployment rate to average 5.0%.

Author:, Economist

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