New Zealand Unemployment Rate Decreased in the Fourth Quarter of 2012


The unemployment rate in New Zealand decreased to 6.9 percent in the fourth quarter, from 7.3 percent in the previous quarter.

Businesses continued to add more jobs over the December 2012 quarter. The number of filled jobs rose 0.4 percent from the previous quarter. Full-time jobs rose by 0.7 percent while part-time jobs fell by 0.6 percent. The overall result of these movements was a rise of 0.4 percent in full-time equivalent jobs (FTEs) over the quarter.

Job numbers continued to rise over the December 2012 year. The number of filled jobs rose 1.4 percent, while FTEs rose 1.5 percent. The rise in unadjusted filled jobs over the year came mostly from three industries: health care and social assistance (up 4.3 percent),wholesale trade (up 8.3 percent), construction (up 6.8 percent).
 
The number of filled jobs is just below the number reached at December 2007. In the period from December 2007 to September 2009 the number of jobs fell significantly, reflecting the impact of the 2008–09 GDP recession.  
 
The number of full-time jobs has returned to a similar level to that at December 2007, while the number of part-time jobs is below the pre-recession level.
 
When considering the number of jobs over time, population growth should be taken into account. The Household Labour Force Survey shows that the estimated working-age population has increased by about 5 percent since December 2007.

Statistics New Zealand | Nuno Salva | nuno.salva@tradingeconomics.com
2/7/2013 8:38:07 AM