Jobs picture better than expected

NZ’s 4.7% unemployment rate stands against 5.9% in Australia, 6.2% in the US and 8.4% in Canada, finance minister Grant Robertson says.

Rebecca Howard

Wed, 05 May 2021

New Zealand’s unemployment rate eased more than expected in the first quarter and the participation rate ticked up a tad, boding well for ongoing economic recovery from covid-19.The unemployment rate was 4.7% versus 4.9% in the prior quarter. The fall was led by stronger-than-expected employment growth.The employment rate in the March quarter was 67.1%, up from 66.8% in the prior quarter.Economists had expected the unemployment rate to hold steady at 4.9%.“The March quarter labour market figures revealed a slightly stronger labour m...

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