New Zealand Jobless Rate at 9-Year Low in Q4

New Zealand's unemployment rate edged down to 4.5 percent in the fourth quarter of 2017 from 4.6 percent in the previous period, below market expectations of 4.6 percent. It was the fourth straight decline and the lowest jobless rate since the last quarter of 2008.

The unemployment rate for women (5 percent from 5.3 percent in the previous quarter) and was flat for men at 4 percent. There were 122 thousand unemployed persons, down by 4 thousand from the previous quarter. 

Employment went up 12 thousand to 2.605 million and the employment rate remained at 67.8 percent, the highest rate since the series began in 1986. 

The labor force participation rate edged down to 70 percent from 71.1 percent.

The underutilisation rate rose to 12.1 percent from 12 percent, reflecting about 340 thousand New Zealanders with potential to work more. 

Annual wage inflation, as measured by the labor cost index, was unchanged at 1.8 percent, the same as in the previous period. Private sector wages rose by 1.9 percent, the same as in Q3 and public ones rose 1.5 percent, also the same as in Q3.

New Zealand Jobless Rate at 9-Year Low in Q4

Statistics New Zealand | Joana Taborda |
2/7/2018 2:11:45 PM