Unemployment in New Zealand

New Zealand Unemployment | Economic News & Forecasts

New Zealand - Unemployment

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.

FocusEconomics panelists expect the unemployment rate to average 6.2% in 2021, which is unchanged from last month’s forecast, and 5.4% in 2022.

New Zealand - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate5.4  5.1  4.7  4.3  4.1  

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New Zealand Unemployment Chart


New Zealand Unemployment
Note: Unemployment in % of active population.
Source: Statistics New Zealand and FocusEconomics calculations.

New Zealand Facts

Value Change Date
Bond Yield1.671.20 %Dec 30
Exchange Rate0.67-1.69 %Jan 01

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