New Zealand's unemployment rate decreased to 4.7 percent in the first quarter of 2021, from 4.9 percent in the previous period and compared to market expectations of 4.9 percent. The seasonally adjusted number of unemployed people fell by 5 thousand in the March 2021 quarter to 135 thousand, while the number of employed people rose by 15 thousand to 2,750 thousand. The employment rate increased 0.3 percentage point to 67.1 percent, while the labour force participation rate edged up to 70.4 percent from 70.2 percent. source: Statistics New Zealand
Unemployment Rate in New Zealand averaged 5.94 percent from 1985 until 2021, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.40 percent in the fourth quarter of 2007. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Unemployment Rate in New Zealand is expected to be 4.70 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 4.50 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 4.20 percent in 2022 and 4.00 percent in 2023, according to our econometric models.