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

 


Unemployment falls to 5.6 per cent

Hon Steven Joyce
Minister for Tertiary Education, Skills and Employment

6 August 2014

Unemployment falls to 5.6 per cent

Unemployment has fallen to 5.6 per cent – its lowest level since the March 2009 quarter.

Today’s Household Labour Force Survey shows the number of people employed increased by 83,000 over the last year.

“These results show the continued strength of the New Zealand economy as we continue to recover from the twin blows of the Global Financial Crisis and the Canterbury earthquakes,” Tertiary Education, Skills and Employment Minister Steven Joyce says.

“It is particularly pleasing to see young people benefitting from our economic growth with 11,300 more 15-19 year olds in employment in the last year. The 15-19 years NEET rate is down to 7.4 per cent in the quarter which is its lowest level since prior to the GFC in mid-2008.”

Other highlights of today’s HLFS release include employment for Pasifika people rising by 19.3 per cent in the past year – the largest annual movement since the series began in December 2007. The Maori employment rate is up 2.8 per cent over the same period.

New Zealand’s unemployment rate continues to be lower than most OECD countries and is now the 9th lowest in the OECD, and better than Australia, the US and the UK. The average unemployment rate across the OECD is 7.4 per cent.

Mr Joyce said today’s data also showed that wages continue to grow ahead of inflation with average weekly wages up 2.7 per cent over the year, compared with inflation of 1.6 per cent.

“The challenge now is to continue to build on this momentum so we have consistent and sustained economic performance that really lifts the opportunities for and incomes of New Zealanders over the longer term,” Mr Joyce says.

“The Government is continuing to work hard through its Business Growth Agenda to implement policies that encourage businesses across the country to invest and grow, and hire more people.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The Team Behind Trump's Throne

Forget the Putin factor. Daily, the team of charlatans, bigots and stunningly ignorant crackpots that Trump is appointing to head key federal agencies is just as alarming. These are positions with vast power and budgetary discretion over policies that stand to affect tens of millions of vulnerable Americans. Sad! More>>

 

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news