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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 5.8 | 5.4 | 5.4 | 5.1 | 4.7 |
New Zealand Unemployment Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.83 | 1.20 % | May 13 |
| Exchange Rate | 0.66 | -1.69 % | May 13 |
| Stock Market | 4,438 | 0.11 % | May 13 |
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Economic News
New Zealand: RBNZ lowers the OCR to a new record low
May 8, 2019
On 8 May, the Reserve Bank of New Zealand (RBNZ) lowered the official cash rate (OCR) by 25 basis points to an all-time low of 1.50%.
New Zealand: Unemployment ticks down in Q1
May 1, 2019
The seasonally-adjusted unemployment rate edged down to 4.2%, from Q3’s 4.3%, as had been expected by market analysts.
New Zealand: Consumer confidence rises to an over-a-year high in April
April 26, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 123.2 in April, from March’s 121.8.
New Zealand: Inflation falls further below Central Bank target
April 17, 2019
Consumer prices rose 0.1% in Q1 2019 over the previous quarter, matching Q4 2018’s uptick, according to Statistics New Zealand.
New Zealand: Consumer confidence edges up in March
March 29, 2019
The ANZ-Roy Morgan consumer confidence indicator ticked up to 121.8 in March, from February’s 120.8.
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