Unemployment in New Zealand
New Zealand - Unemployment
Unemployment ticks down in Q1
The seasonally-adjusted unemployment rate edged down to 4.2%, from Q3’s 4.3%, as had been expected by market analysts. The downturn reflected lower growth in the number of unemployed people, especially among men, as a share of growth in the labor force.
In addition, the underutilization rate—which includes both unemployment and underemployment—decreased from 12.1% in Q4 to 11.3% in Q1, pointing to a fall in the labor market’s untapped capacity. Meanwhile, private sector wages rose 0.3% in Q1 on a quarter-on-quarter basis, below Q4’s 0.5% increase. All told, wage pressures are starting to build, albeit at a gradual pace.
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 4.3% in 2019, which is unchanged from last month’s forecast, and also 4.3% in 2020.
New Zealand - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Unemployment Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
|Bond Yield||1.56||1.20 %||Jul 11|
|Exchange Rate||0.67||-1.69 %||Jul 11|
|Stock Market||4,659||0.11 %||Jul 11|
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June 28, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 122.6 in June (May: 119.3), moving further above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more optimistic about their current financial situation, and they also grew more confident about their future financial conditions.
June 28, 2019
The ANZ bank business outlook indicator fell by 6.1 points in June, with a net 38.1% firms reporting that they expect general business conditions to deteriorate this year.
June 26, 2019
On 26 June, the Reserve Bank of New Zealand (RBNZ) left the official cash rate (OCR) unchanged at an all-time low of 1.50%.
June 20, 2019
The economy expanded 0.6% in quarter-on-quarter seasonally-adjusted terms in the first quarter, unchanged from Q4 2018’s result.
May 31, 2019
The ANZ-Roy Morgan consumer confidence indicator declined to 119.3 in May (April: 123.2), notching a six-month low but remaining well above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more pessimistic about current conditions in May from a month earlier, reflecting reluctance to buy big-ticket household items as well as a dimer perception of their current financial situation.