Unemployment rates could spike, as cost-of-living pressures continue and migration numbers remain high

Stats NZ figures show a net migration gain of 83-thousand people in the year to May -- down 14 thousand from the year before.

ASB chief economist Nick Tuffley says since we still have more people coming in, there would be a high number of people looking for work.

He says employment options are flat-lining and job losses are rising.

Tuffley says jobs aren't being created at a time a lot of people are seeking work, it will contribute to a lift in unemployment and slower wage growth.