Unemployment rate second lowest on record

The latest labour force figures confirm that the Government's employment strategy is delivering jobs, Social Development and Employment Minister David Benson-Pope says.

The Household Labour Force Survey (HLFS) for the quarter ending December 2006 shows unemployment now down to 3.7 per cent, the second lowest figure recorded since the survey began in 1986.

"The trend is positive and consistent," said Mr Benson-Pope. "In 2004 the unemployment rate fell below four per cent for the first time in 20 years and it has now stayed below four per cent for 10 consecutive quarters.

"New Zealand continues to compare more than favourably with other OECD countries, with our unemployment rate fourth out of 27 countries and we remain one of the two consistently best-performing countries."

Annual employment increased by 30,000 between December 2005 and December 2006.

"Thanks to initiatives like Working New Zealand, this Government is helping more and more people into real jobs: they win, their families win and New Zealand wins."

Mr Benson-Pope said today's employment figures were backed by data also out today showing a five per cent decline in the number of people on Unemployment Benefits over the year to December 2006.

ENDS

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