Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Labour Market Showing Signs of Improvement

Labour Market Showing Signs of Improvement – Media release

9 May 2013

The employment rate rose to 63.7 percent in the March 2013 quarter, up from 62.7 percent in the December 2012 quarter, Statistics New Zealand said today. The unemployment rate fell to 6.2 percent, down from a revised 6.8 percent last quarter.

There were 38,000 more people employed this quarter – up 1.7 percent. The rise in employment came mainly from full-time employment and was across a range of industries.

"We saw labour market conditions improve over the quarter as employment increased and unemployment fell. This improvement followed a period of weakness over 2012, when employment and labour force participation fell," industry and labour statistics manager Diane Ramsay said. "However, while this is a strong turnaround, the labour market has yet to recover to levels seen at the start of last year."

The number of people unemployed fell by 15,000 over the quarter. "We usually see actual unemployment rise in March quarters as a result of seasonal factors, such as students entering the job market. We didn't see this happen this quarter, and this has resulted in a larger than expected seasonally adjusted quarterly fall," Ms Ramsay said.

The number of people in the labour force rose in the March 2013 quarter. As a result, the labour force participation rate rose 0.6 percentage points to 67.8 percent. Despite increasing over the quarter, participation fell 0.8 percentage points over the year to March 2013. The number of people outside the labour force decreased in the March 2013 quarter.

Over the year Canterbury's labour market has continued to improve, with both employment and participation rising. The region's unemployment rate is now down to 4.3 percent. Excluding Canterbury from the national estimates shows a much weaker labour market, with both the employment rate and labour force participation rate falling over the year.

The Household Labour Force Survey (HLFS) is one of several ways of looking at the labour market. The Quarterly Employment Survey: March 2013 quarter also showed an increase in employment. For more information see labour market statistics.

HLFS results are based on a representative sample of 15,000 households throughout New Zealand. The survey is designed to produce reliable estimates of the numbers of people employed, unemployed, and not in the labour force. Its key measures have a margin of error of plus or minus 0.5 percentage points.

ENDS

HouseholdLabourForceSurveyMar13qtr.pdf
hlfsmar13qtrtables.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news