Unemployment in New Zealand
The unemployment rate averaged 4.7% in the decade to 2022 in New Zealand. The unemployment rate in 2022 was 3.3%. For more unemployment information, visit our dedicated page.
New Zealand Unemployment Chart
New Zealand Unemployment Data
|Unemployment (% of active population, aop)||4.3||4.1||4.6||3.8||3.3|
Unemployment rate rises in Q3
The seasonally-adjusted unemployment rate rose to 3.9% in Q3 from 3.6% in Q2. Meanwhile, the underutilization rate—which includes both unemployment and underemployment—increased to 10.4% in Q3 from 10.0% in Q2. Though the labor market softened in Q3, it remained tight by historical standards: The unemployment rate averaged 4.7% in the decade to 2022. A further slight loosening of the labor market is expected in 2024 on the back of the lagged effects of previous interest rate hikes.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects New Zealand unemployment projections for the next ten years from a panel of 12 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable unemployment forecast available for New Zealand unemployment.
Download one of our sample reports to visualize what a Consensus Forecast is and see our New Zealand unemployment projections.
Want to get access to the full dataset of New Zealand unemployment forecasts? Send an email to email@example.com.
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