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Press Release – Statistics New Zealand The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 … The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 quarter, dropping 0.6 percentage points in the June 2021 quarter, to reach 4.0 percent. “The fall in unemployment is largely in line with other labour market indicators, including declining numbers of benefit recipients and increased job vacancies, and recent media reports of labour shortages and skills mismatches,” work, wealth, and wellbeing statistics senior manager Sean Broughton said. ....
BNZ tips OCR to hit 1% by end of the year after record drop in unemployment stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
ANZ and BNZ tip OCR to hit 1% by year-end after record drop in unemployment stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Kiwibank chief economist Jarrod Kerr believed the unemployment number “all but confirms a rate hike from the Reserve Bank in August”, describing it as another upside surprise. Statistics NZ senior manager Sean Broughton said the drop in unemployment was largely in line with other labour market indicators, including declining numbers of beneficiaries, rising job vacancies, “and recent media reports of labour shortages and skills mismatches”. The number of people reporting they were “underutilised”, for example because they were working fewer hours than they wanted, also plummeted, falling by 48,000 people or 13.3 per cent over the quarter. Broughton said that big drop showed that spare capacity in the labour market was dwindling and that could lead to upward pressure on wage rates. ....
Unemployment plunges to 4 per cent - biggest quarterly fall in 35 years Employers are reporting skills shortages across the economy. (Photo / 123RF) Unemployment plunges to 4 per cent - biggest quarterly fall in 35 years Wed, 4 Aug 2021, 10:57AM The number of people unemployed in New Zealand has been dropping by more than 1000 a week in recent months, with an extremely tight labour market pushing employers to up pay to keep staff. Statistics New Zealand revealed today that in the three months to June 30, the unemployment rate fell to 4 per cent, from 4.6 per cent at the end of March. Ahead of the release, most economists predicted the unemployment rate would fall, but the drop was much sharper than expected. ....