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Unemployment at new low

8 November 2007 Media Statement

Unemployment at new low

The latest Household Labour Force Survey quarterly results from Statistics NZ confirm the Labour-led government's employment policies and responsible economic management, says Social Development and Employment Minister Ruth Dyson.

“The record low level of unemployment of 3.5 per cent is the lowest rate since the Survey began.”

"In December 1999 when the Labour-led government took office the participation rate was 65.4 percent. Now the labour force participation rate is at 68.3 per cent," said Ruth Dyson.

The numbers of people unemployed have dropped from 81,000 in the June quarter to 79,000 this quarter.

New Zealand now also has the second highest level of employment, with 2,150,000 New Zealanders employed in the September 2007 quarter.

"Our Labour-led government's commitment to lifting the value of employment, and providing more choices for living, caring and working is paying dividends. A key goal of our economic transformation agenda is to increase participation - we are clearly on track.”

"For more than three years now unemployment in New Zealand has been under four percent. We have the fifth lowest unemployment rate in the OECD and we are the only country in the OECD to achieve such a low unemployment rate over such an extensive period," said Ruth Dyson.

For a full copy of the Household Labour Force Survey, go to:
www.stats.govt.nz

ENDS

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