Unemployment highest since 1994

Notable decreases in employment in the manufacturing, retail trade and accommodation, and construction industries

New Zealand's out of work hits 150,000

UNEMPLOYED New Zealanders numbered 150,000 this quarter increasing the unemployment rate to 6.5 percent, reports the Household Labour Force Survey from Statistics New Zealand today.

Unemployment has increased steadily since December 2007 and is now at its highest level since the March 1994 quarter.

"During the past year there have been notable decreases in employment in the manufacturing,retail trade and accommodation, and construction industries, while employment in the health care and social assistance, and public administration and safety industries has increased", said Peter Gardiner, Manager of Work, Knowledge and Skills at Statistics New Zealand.

The Household Labour Force Survey (HLFS) commenced in October 1985 and provides a regular snapshot of New Zealand labour with a quarterly analysis of employment, unemployment, and people not in the labour force.

Comments

[Juli Ryan]

It's still quite a low percentage. About en par with Japan?

[Domestic Executive]

I find the whole economy conversation frightening right now. I fear kiwis have gone ostrich and are burying their heads in the sand. To close the gap with Oz, productivity has to increase by 2% per year. Since productivity has been in decline for years that's going to be some turnaround.