Record NZ employment rate demonstrates strong economic fundamentals

In BICSI Bytes, News by

In Q3 2018, New Zealand reported a record employment rate of 68.3%, together with its lowest unemployment rate in a decade – 3.9%.

Commenting on the results, Finance Minister Grant Robertson said: “Our economic plan backs businesses to invest and hire. We’re making record transport infrastructure investments throughout New Zealand to boost productivity and exports; we have a strong focus on regional development through the Provincial Growth Fund; and we are supporting businesses to close skills-gaps through policies like Mana in Mahi/Strength in Work, micro-credentials and fees-free.

“On top of this, our NZ$1 billion investment to support business R&D, the $100 million Green Investment Fund, and Trade for All agenda will see investment in new technologies, and open up new markets for our exporters.

“We’re also changing the underlying regulatory settings to encourage investment into the productive economy. We’re heading away from growth driven by property speculation and population increase and transitioning the economy towards productive, sustainable and inclusive growth.”

Willie Jackson, the Minister of Employment added: “There are now over 2.66 million New Zealanders in employment, which means that 29,000 more people and families are engaged in earning since the last quarterly results were released.”