New Zealand Unemployment

New Zealand

New Zealand: Unemployment rate inches up in Q4

February 4, 2015

In the fourth quarter of 2014, the economy added 28,000 new jobs in seasonally-adjusted terms, which followed the 20,000 jobs created in the third quarter. Q4’s improvement came on the back of increases in full-time and part-time positions.

Despite the gain in new jobs, the seasonally-adjusted unemployment rate rose from Q3’s 5.4% to 5.7% in Q4 due to an increased labor force. Q4’s print represented the highest unemployment rate since Q1 2014. The reading came in above market expectations of a drop to 5.3%.

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: Teresa Kersting, Economist

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New Zealand Unemployment Chart


New Zealand Unemployment Q4 2014

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


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