New Zealand's unemployment rate remained unchanged at an all-time low of 3.2 percent in the first quarter of 2022, in line with market expectations. The employment rate decreased to 68.6 percent from 68.8 percent the previous quarter, as population growth outpaced the rise in employment. The number of employed people remained steady over the quarter, rising by 2,000 people to 2,826,000. The labour force participation rate was 70.9 percent, down slightly from 71.1 percent. Meanwhile, the underutilization rate was 9.3 percent, up slightly from 9.2 percent, primarily from growth in available potential jobseekers – those who want and are available to work, but not currently looking. source: Statistics New Zealand
Unemployment Rate in New Zealand averaged 5.87 percent from 1985 until 2022, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.20 percent in the fourth quarter of 2021. 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 July of 2022.
Unemployment Rate in New Zealand is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Unemployment Rate is projected to trend around 3.20 percent in 2023, according to our econometric models.