Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Solid employment growth continues


Hon Steven Joyce

Minister for Tertiary Education, Skills & Employment

6 November 2013


Solid employment growth continues

Latest labour market data shows continuing growth in employment and decrease in unemployment as the economy strengthens, Tertiary Education, Skills and Employment Minister Steven Joyce says.

Today’s Household Labour Force Survey shows employment was up by 1.2 per cent – 27,000 people – in the September quarter and 2.4 per cent in the year to September – 53,000 people.

The unemployment rate fell from 6.4 per cent in the previous quarter to 6.2 per cent.

“While unemployment is still higher than we would like, it has declined from 7.2 per cent a year ago, and the overall trend is of an improving labour market as the economy picks up. The Government is working across a number of fronts to help bring the rate down further,” Mr Joyce says.

“The economy grew at around 2.5 per cent in the year to June 2013, one of the highest rates in the OECD.

“Our participation rate grew to 68.6 per cent, up 0.5 percentage points, and remains significantly higher than Australia’s at 65 per cent.”

Wages continue to rise faster than inflation. Average weekly earnings rose 2.9
per cent in the last year, compared to inflation of 1.4 per cent.

The NEET rate for 15 - 24 year olds - youth not in employment, education or training – continued to fall, to 11.4 per cent over the quarter, the lowest since December 2008. The NEET rate for 20 - 24 year olds fell by 1.8 to 14.1 per cent.

“Momentum in the New Zealand economy is continuing to grow, with September’s trade data confirming the recovery from last summer’s drought is underway, along with the highest increase in permanent and long-term migration in over a decade,” Mr Joyce says.

Business confidence rose to 14 year highs in September’s Quarterly Survey of Business Opinion and in October’s ANZ Business Outlook.The recent Grant Thorndon International Business Report puts New Zealand sixth out of 44 economies in terms of business confidence.

“The Government’s comprehensive Business Growth Agenda is all about creating the conditions for businesses to invest for jobs and growth, and for regions to take advantage of the economic opportunities available to them. It includes around 350 initiatives to create a more productive and competitive economy to create more jobs and higher wages for kiwis around the country,” Mr Joyce says.

“Today’s HLFS underlines a steady improvement in the New Zealand economy guided by the Government’s careful, considered economic reforms.”

ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news