New Zealand Unemployment Rate Unchanged at 6%
In the first quarter of 2014, New Zealand jobless rate remained unchanged at 6 percent. The labour force participation and employment rates both increased 0.4 percentage points over the quarter, with growth seen across a number of regions, industries, and demographics.
The labour force participation rate increased 0.4 percentage points, to 69.3 percent. The rise in participation is on the back of more people in work, while the number of people looking for work remained unchanged at 147 thousand.
The employment rate rose 0.4 percentage points, to 65.1 percent and the number of people employed increased by 22,000 people. Annually, the number of people employed rose 3.7 percent. Demand for workers from established businesses rose 2.6 percent.
Annual wage inflation, as measured by the labour cost index salary and wage rates (including overtime), was 1.6 percent. This compares with annual consumer price inflation of 1.5 percent. Average ordinary time hourly earnings rose 2.5 percent over the year.
5/7/2014 12:01:33 AM