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.