Unemployment is continuing to rise
Unemployment is continuing to rise
1 May 2024
New figures from Stats NZ show the unemployment rate was 4.3 percent in the March quarter.
That's up 0-point-3 percentage points, from 4 percent in the December quarter.
The unemployment rate has been steadily rising, since reaching a record low of 3.2 percent in the December 2021 quarter.
Today's rate reflects the impacts of higher interest rates, as the Reserve Bank continues its efforts to rein in inflation.
Most economists had been expecting an unemployment rate of between 4.2 and 4.3 percent.
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