9 May 2002

Maharey: Impressive Job Growth Reflects Success Of Government Policies

Social Services and Employment Minister Steve Maharey says that latest job figures indicate that the Government's policies are working.

“Over the past year we have seen impressive job growth with 63,000 new jobs created - an annual increase of 3.5%.

“Over the past two years we have seen 104,000 new jobs (1,763,000 to 1,867,000) - an increase of 5.9%.

“The unemployment rate has come back to 5.3%, and this is on the back of the highest participation rate we have seen since the survey started.

“I am also delighted to see that the numbers of long term unemployed have come down. There are 12,000 fewer long-term unemployed now than there were two years ago - that is a reduction over that period of over 30%.

“These are very good numbers for the economy and are a credit to those who through investment and effort are growing this economy.

“The economy is on course, and this Government has the policy mix right,” Steve Maharey said.

Statistics New Zealand’s Household Labour Force Survey for the March 2002 quarter was released this morning showing a fall in unemployment from 5.4 percent in the last quarter to 5.3 percent this quarter.

Ends

A summary table from the March 2002 Household Labour Force Survey is attached.
Household Labour Force Survey

2 years March 00 – March 02
Employment +5.9%
Unemployed -13.3%
Labour Force +4.7%
Not in the workforce -2.6%

Employment +104,000
Unemployed -16,000
Labour Force +89,000
Not in the workforce -26,000

Ends

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