13 August 2002

New Zealand moves back into OECD top 10

New Zealand’s latest unemployment figures place us tenth on the OECD scale, up four places in just two years.

June 2002 unemployment rates are at 5.1%, a 14-year low that ties New Zealand with Sweden and the United Kingdom.

Minister for Economic, Regional and Industry Development Jim Anderton was delighted with the top-ten ranking.

“These statistics reflect the success of the previous Government’s efforts to build up capabilities and get the regions moving again. Every single region in New Zealand is booming, many at over 4%.

“The current Labour-Progressive Coalition Government will maintain those efforts to strengthen the regions even further.

“Strong regional economies add up to a strong national economy, one that could deliver the kind of first-world standard of living to which New Zealanders aspire.”

Jim Anderton also commented on the continuing role of the Ministry of Economic Development in fostering new business and reducing unemployment even further.

“In 1999, we had to start from ground zero.

“When Industry New Zealand was established there was very little capacity to develop regional plans. There were those in opposition who wanted to return to the failed hands-off policies of last century and abandon the regions to a cycle of decline.

“But our commitment to regional development has had a profound and positive impact on enterprises throughout the regions and cities of New Zealand.

“Public-private partnerships have allowed New Zealand businesses to speed their growth, create jobs and secure our economic future.

“The whole New Zealand economy is reaping the rewards of the Government’s focus on economic, industry and regional development.

“I’ll be working as hard as I can to help move us even further up the scale this term.”

Ends

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