Unemployment rate holds steady at 3.4%

(Image: Gettty)

Wed, 03 May 2023

Wed, 03 May 2023

New Zealand’s unemployment rate held steady at 3.4% in the March quarter while annual wage inflation hit a record 4.3%. The unemployment rate is slightly lower than the 3.5% forecast by the Reserve Bank of NZ (RBNZ).The underutilisation rate was 9.0% compared with a revised 9.3% in the December quarter. “Unemployment and underutilisation rates, as measured by the Household Labour Force Survey, have been sitting at or near record lows for more than a year,” work and wellbeing statistics senior manager Becky Collett sa...

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