New Zealand's unemployment rate rose to 4.2 percent in the third quarter of 2019 from an 11-year low of 3.9 percent in the previous period, and above market expectations of 4.1 percent. Unemployment Rate in New Zealand averaged 5.98 percent from 1985 until 2019, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.30 percent in the fourth quarter of 2007. source: Statistics New Zealand

Unemployment Rate in New Zealand is expected to be 4.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in New Zealand to stand at 4.30 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 4.40 percent in 2020, according to our econometric models.

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New Zealand Unemployment Rate
Calendar GMT Actual Previous Consensus TEForecast
2019-02-06 09:45 PM Unemployment Rate Q4 4.3% 4.0% 4.1% 4.4%
2019-04-30 10:45 PM Unemployment Rate Q1 4.2% 4.3% 4.2% 4.3%
2019-08-05 10:45 PM Unemployment Rate Q2 3.9% 4.2% 4.3% 4.2%
2019-11-05 09:45 PM Unemployment Rate Q3 4.2% 3.9% 4.1% 4%



New Zealand Jobless Rate Rebounds in Q3

New Zealand's unemployment rate rebounded to 4.2 percent in the third quarter of 2019 from an 11-year low of 3.9 percent in the previous period, above market expectations of 4.1 percent.

The number of unemployed people increased by 6 thousand to 115 thousand, reflecting 4 thousand more unemployed women and 2 thousand more unemployed men. For men, the unemployment rate went up to 3.8 percent from an over 11-year low of 3.6 percent in the prior period. For women, the unemployment rate rose to 4.6 percent from 4.3 percent in the second quarter of the year. 

There were 6 thousand more employed people in the third quarter, up to 2.64 million, driven by a rise in the number of employed men (+6,000) and women (+1,000). The employment rate for men remained steady at 72.2 percent, while for women fell slightly to 62.9 percent (vs 63 percent in Q3).

The labour force participation rate was at 70.4 percent in the September quarter, higher than 7.3 percent in the previous period and market expectations.

The underutilisation rate declined to 10.4 percent from 11.0 percent in Q2. It was the lowest rate since the second quarter of 2008.

Annual wage inflation, as measured by the labor cost index, increased to 2.4 percent in the third quarter of 2019 from 2.1 percent in the prior period. Public sector wages advanced 3.0 percent, the highest rate since the second quarter of 2009, and following a 2.2 percent gain in the previous quarter. Meanwhile, private sector wages rose 2.3 percent, up from 2.2 percent in the previous quarter. On a quarterly basis, wages increased by 0.8 percent, up from a 0.7 percent rise in the previous period.


Statistics New Zealand | Mario | mario@tradingeconomics.com
11/6/2019 10:21:23 AM



New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.20 3.90 11.20 3.30 percent [+]
Employed Persons 2641.00 2635.00 2641.00 1499.00 Thousand [+]
Unemployed Persons 115.00 108.00 189.00 69.00 Thousand [+]
Employment Change 0.20 0.80 2.50 -1.80 percent [+]
Labor Force Participation Rate 70.40 70.30 70.90 63.00 percent [+]
Labour Costs 1202.00 1193.00 1202.00 699.62 Index Points [+]
Productivity 126.60 126.49 127.31 86.54 Index Points [+]
Job Vacancies 193.10 192.54 196.57 55.20 Index Points [+]
Wages 32.71 32.42 32.71 13.07 NZD/Hour [+]
Wages in Manufacturing 31.02 30.68 31.02 12.44 NZD/Hour [+]
Minimum Wages 17.70 16.50 17.70 10.25 NZD/Hour [+]
Population 4.93 4.84 4.93 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 10.60 10.30 15.30 10.30 percent [+]
Part Time Employment 520.00 537.00 555.00 264.00 Thousand [+]
Employment Rate 67.50 67.50 68.00 56.40 percent [+]
Full Time Employment 2120.00 2147.00 2147.00 1177.00 Thousand [+]


New Zealand Unemployment Rate

In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on November of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.20 3.90 11.20 3.30 1985 - 2019 percent Quarterly




Country Last Previous
South Africa 29.10 Sep/19 29
Spain 13.92 Sep/19 14.02
Turkey 13.90 Jul/19 13
Brazil 11.80 Sep/19 11.8
Argentina 10.60 Jun/19 10.1
Italy 9.90 Sep/19 9.6
France 8.60 Sep/19 8.5
Euro Area 7.50 Sep/19 7.5
India 6.00 Dec/18 5
Saudi Arabia 5.60 Jun/19 5.7
Canada 5.50 Oct/19 5.5
Australia 5.30 Oct/19 5.2
Indonesia 5.28 Sep/19 5.01
Russia 4.50 Sep/19 4.3
Mexico 3.80 Sep/19 3.7
United Kingdom 3.80 Sep/19 3.9
China 3.61 Sep/19 3.61
United States 3.60 Oct/19 3.5
Netherlands 3.50 Sep/19 3.5
South Korea 3.50 Oct/19 3.4
Germany 3.10 Sep/19 3.1
Japan 2.40 Sep/19 2.2
Singapore 2.30 Sep/19 2.2
Switzerland 2.20 Oct/19 2.1


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