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Unemployment rate collapses to 3.8%

Unemployment rate collapses to 3.8%

Progressive MP Matt Robson says the news today that New Zealand's unemployment rate has now collapsed to 3.8% highlights again the benefits of five years of progressive government promoting regional, industry and economic development.

There are now 2,022,000 people in work and over 230,000 new jobs in New Zealand since the progressive government was elected in late 1999. Only 79,000 people are unemployed, down from over 120,000 five years ago. Maori unemployment is around 8%, down from near 30% under National Party rule a decade ago.

"The dramatic news today that our unemployment rate is at its lowest level in a generation reminds us why we need to keep on delivering policies that propel companies' growth and that add to further productivity gains for our economy so we can carry on delivering forward-looking education, housing and social policies," the Progressive MP said.

Last week the Progressive Party outlined its policy campaigns to lower the company tax rate to match Australia's so that the New Zealand continues its winning streak of out-performing the Australian economy. Progressive is also campaigning to cut into the debt levels of tertiary graduates who work in New Zealand.

"In the coming weeks and in the New Year, the Progressive Party will outline further policies for economic development. The strengthening of the economy is essential to reach our goal of full employment, free education, and free healthcare," Matt Robson said.

Statistics New Zealand's Household Labour Force Survey today showed a continuation of the labour market strength observed in recent quarters. It reported strong employment growth of 0.9 percent, a fall in the unemployment rate to 3.8 percent and increasing labour force participation.

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