NZ unemployment continues to fall, while wages rise

In BICSI Bytes, Newsby

According to the latest Statistics New Zealand figures, the nation’s unemployment rate has dropped significantly this year, from 4.3% in Q4 2018 to 4.2% in Q1 2019, while wages grew 3.4% over the year to 31 March.

“The fall in unemployment to its second lowest level in 10 years shows we are maintaining a strong economy with policies that support workers and business,” Employment Minister Willie Jackson said. “Workers are getting higher wages under the Government’s plan to grow the economy.

“The unemployment rate for Māori continues to track in the right direction falling to 8.6% from 9.6% which means 5,100 more Māori are in paid employment.

“The number of employed people rose 38,200 (1.5%) from a year ago. This shows continued growth in jobs at a time when economists are suggesting we are at ‘full employment’. Meanwhile, the Not in Employment, Education or Training (NEET) rate fell to 13.2% from 14% in Q4 2018.”