Unemployment rises to 4% as wage growth continues

(Image: Getty)

Wed, 07 Feb 2024

New Zealand’s unemployment rate rose to 4% in the December quarter, according to data from Stats NZ. The rise was below what economists and the Reserve Bank of NZ (RBNZ) had expected. The RBNZ had forecast the rate would be 4.2%, while economists had tipped 4.2% to 4.3%. It also compared to 3.9% in the prior quarter. "Unemployment rates have returned to 2019 levels, following historic lows," Stats NZ's senior manager for work and wellbeing statistics, Becky Collett, said.Annual wage inflation – as measur...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

Auckland tumbles, Southland on top in ASB regional scoreboard

Auckland has fallen to 5th place.

Tom Raynel 4:10pm

Property

Property operator will negotiate with Italian restaurateur

Stride's CEO says the landlord won't be silly over a lease dispute with Portofino.

Maria Slade 3:40pm

Property operator will negotiate with Italian restaurateur

Primary Sector

Jones heads to Oz to woo mining investors

Work has begun on a critical minerals list and stocktake.

Ian Llewellyn 3:32pm

Jones heads to Oz to woo mining investors

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

Sponsored

Big change coming to insurance

Industry reset sees risk-based pricing coming for many homeowners.

VERO

More Economy

Economy

Auckland tumbles, Southland on top in ASB regional scoreboard

Auckland has fallen to 5th place.

Tom Raynel 4:10pm

Economy

Business gloom offers inflation hope

The New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion shows a continued deterioration in business confidence in the second quarter.A net 35% of firms expected a deterioration in the general economic outlook over the coming months on a seaso...

Staff reporters 02 Jul 2024