The unemployment rate in New Zealand rose to 4% in the three months to December of 2023, maintaining the highest level since June quarter of 2021, compared to 3.9% in the prior quarter and slightly below market expectations of 4.2%. The underutilisation rate, which is a broader measure of spare labour capacity than unemployment alone, was 10.7% in the December 2023 quarter. This compared with 10.4% in the previous quarter and 9.3% in the December 2022 quarter. Meantime, the labor force participation rate edged down to 71.9% from 72% in the previous quarter. source: Statistics New Zealand

Unemployment Rate in New Zealand increased to 4 percent in the fourth quarter of 2023 from 3.90 percent in the third quarter of 2023. Unemployment Rate in New Zealand averaged 5.76 percent from 1985 until 2023, 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 March of 2024.

Unemployment Rate in New Zealand increased to 4 percent in the fourth quarter of 2023 from 3.90 percent in the third quarter of 2023. Unemployment Rate in New Zealand is expected to be 4.30 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 5.20 percent in 2025 and 5.40 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-10-31 09:45 PM
Unemployment Rate
Q3 3.9% 3.6% 3.9% 3.9%
2024-02-06 09:45 PM
Unemployment Rate
Q4 4% 3.9% 4.2% 4.2%
2024-04-30 10:45 PM
Unemployment Rate
Q1 4% 4.3%


Related Last Previous Unit Reference
Employed Persons 2939.00 2927.00 Thousand Dec 2023
Employment Change 0.40 -0.20 percent Dec 2023
Employment Rate 69.00 69.20 percent Dec 2023
Full Time Employment 2365.00 2348.00 Thousand Dec 2023
Participation Rate 71.90 72.00 percent Dec 2023
Labour Costs Index 1373.00 1360.00 points Dec 2023
Part Time Employment 575.00 577.00 Thousand Dec 2023
Population 5.31 5.16 Million Dec 2023
Productivity 126.29 126.81 points Dec 2023
Unemployed Persons 122.00 119.00 Thousand Dec 2023
Unemployment Rate 4.00 3.90 percent Dec 2023
Wages 40.90 40.46 NZD/Hour Dec 2023
Wages in Manufacturing 37.76 38.24 NZD/Hour Dec 2023
Youth Unemployment Rate 12.40 12.10 percent Dec 2023

New Zealand Unemployment Rate
In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.90 11.20 3.20 1985 - 2023 percent Quarterly
SA

News Stream
New Zealand Jobless Rate Rises to 4% in Q4
The unemployment rate in New Zealand rose to 4% in the three months to December of 2023, maintaining the highest level since June quarter of 2021, compared to 3.9% in the prior quarter and slightly below market expectations of 4.2%. The underutilisation rate, which is a broader measure of spare labour capacity than unemployment alone, was 10.7% in the December 2023 quarter. This compared with 10.4% in the previous quarter and 9.3% in the December 2022 quarter. Meantime, the labor force participation rate edged down to 71.9% from 72% in the previous quarter.
2024-02-06
New Zealand Jobless Rate Rises As Expected
The unemployment rate in New Zealand rose to 3.9% in the September quarter of 2023, remaining at the highest level since June quarter of 2021, compared to 3.6%% in the preceding quarter and in line with market expectations. The underutilisation rate, a broader measure of spare labor capacity, increased to 10.4% in the September 2023 quarter from 9.9% from the previous quarter, and 8.9% a year earlier. Meantime, the labor force participation rate inched down to 72% after hitting 72.4%, the highest rate recorded since 1986, in the previous quarter. The employment rate fell to 69.1% from a series high of 69.8% last quarter. However, the rate remains historically high since the series started in 1986.
2023-10-31
New Zealand Jobless Rate Rises More than Estimates
The unemployment rate in New Zealand increased to 3.6% in the second quarter of 2023, marking the highest reading since June quarter of 2021, compared to 3.4% in the previous quarter and above market expectation of 3.5%. The underutilization rate – a broader measure of spare labor capacity – rose to 9.3% from 9% in the first quarter. Meantime, the labor force participation rate hit 72.4%, the highest rate recorded since 1986 after reaching 72% in the March quarter, and the employment rate was recorded at 69.8 percent, up from an upwardly revised 69.6% in the previous quarter.
2023-08-01