Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Unemployment Rate at 4.4 Percent


Unemployment Rate at 4.4 Percent

The seasonally adjusted unemployment rate stands at 4.4 percent, according to Statistics New Zealand's September 2003 quarter Household Labour Force Survey. Seasonally adjusted results also show quarterly employment growth of 1.3 percent.

Seasonally adjusted employment has shown an upward trend for four years now, with growth averaging 0.7 percent per quarter over that period. A downward trend in unemployment commenced in December 1998, then slowed over the 2001 to 2002 period. However, the downward unemployment trend appears to have regained momentum over recent quarters, with numbers of unemployed falling to 88,000 in the current quarter, and the unemployment rate averaging 4.7 percent over the year to September 2003.

The working age population has shown strong growth since mid-2001, with more than half of the growth attributable to net gains in permanent and long-term migration. The increasing supply of labour has fed employment growth in response to a strong demand for labour in the economy.

This demand has absorbed the growing labour supply and also drawn from existing groups of both the unemployed and those not in the labour force. The number of people not in the labour force fell this quarter for the first time since March 2002. This is because the increase in the total labour force was greater than the increase in the working age population. Consequently, the labour force participation rate has risen this quarter, and now stands at 66.6 percent.

Other seasonally adjusted results in the September 2003 quarter show an estimated 1,939,000 persons employed (compared with 1,913,000 last quarter and 1,878,000 a year ago). The increase in employment was driven largely by females, and those living in the Auckland region. The seasonally adjusted total labour force stood at 2,027,000 for the September 2003 quarter and the seasonally adjusted number for those not in the labour force was 1,017,000 (compared with 995,000 in the September 2002 quarter).

Unadjusted unemployment rates have fallen for all ethnic groups over the year to September 2003, with Mäori, Pacific peoples, and 'Other' ethnic groups all recording statistically significant falls. The unadjusted unemployment rates in the September 2003 quarter stood at 9.7 percent for Mäori, 6.6 percent for Pacific peoples, 6.1 percent for the 'Other' ethnic group, and 3.3 percent for the European/Päkehä ethnic group.

Brian Pink

Government Statistician


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>