New Zealand's unemployment rate fell to 4 percent in the second quarter of 2020 from 4.2 percent in the previous period and well below market expectations of 5.8 percent. The number of unemployed people dropped by 6 thousand to 111 thousand. Meantime, the underutilisation rate rose to 12 percent from 10.4 percent in the first quarter, the largest quarterly rise since the series began in 2004, while hours worked were down by a record 10.3 percent. source: Statistics New Zealand
Unemployment Rate in New Zealand averaged 5.94 percent from 1985 until 2020, 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. 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 October of 2020.
Unemployment Rate in New Zealand is expected to be 6.50 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 7.30 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 7.50 percent in 2021 and 6.80 percent in 2022, according to our econometric models.