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84,000 more jobs in last year

Hon Steven Joyce
Minister for Tertiary Education, Skills & Employment

7 May 2014

84,000 more jobs in last year

The latest labour market data shows continuing strong employment growth with 84,000 more jobs added to the New Zealand economy in the last year – the largest increase in nearly a decade.

Today’s Household Labour Force Survey shows employment was up by 0.9 per cent – 22,000 people – in the March quarter and up by 3.7 per cent in the last year.

“The latest results show the growing strength of the New Zealand economy,” Mr Joyce says.

“While unemployment remained flat at 6.0 per cent, it was driven by a record labour force participation rate of 69.3 per cent. That compares with 64.7 per cent in Australia.

Highlights include:
• Female participation rose to 63.7 per cent – a new record high.
• Average ordinary time hourly earnings, as measured by the Quarterly Employment Survey, rose 2.5 per cent in the year. Inflation was 1.5 per cent in the last year, meaning New Zealanders’ wages continue to rise faster than the cost of living
• Unemployment for Pasifika continues to fall – down 2.2 percentage points from a year ago.

New Zealand’s unemployment rate continues to be lower than most OECD countries. The average unemployment rate across the OECD is 7.6 per cent.

“Through our comprehensive Business Growth Agenda, theGovernment has a strong focus on creating the opportunities for competitive businesses to invest and employ more people.

“Our results so far are reflected in strong growth, increasing employment, an improved trade balance, stronger productivity growth, and real wages rising faster than the cost of living.”

ENDS

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