Unemployment has remained at a record low, with more people in work and higher wages due to the Government’s actions to support the economy during the Omicron outbreak and Russia’s invasion of Ukraine.

Stats NZ figures show the unemployment rate was unchanged at 3.2 percent in the March quarter, with 94,000 people classed out of work. That is 29 percent below where it was a year ago.

Employment rose by 2,000 in the quarter, driven by full time employment. The total number of people in work is now 114,000 above where it was in the December 2019 quarter before COVID.

The average hourly wage rose 4.8 percent to $36.18 an hour.

“This is very positive result in what has been a challenging environment. It is a sign of confidence in the economy and the Government’s strong health response and sound economic management,” Grant Robertson said.

“Our economy has come through the Covid shock better than almost anywhere else. GDP is up 5.6 percent from a year ago, we have Triple A credit ratings from the two leading ratings agencies and these labour market numbers show our recovery is gaining momentum.

“The results also show New Zealand has once again performed favourably against the countries we measure ourselves with New Zealand’s unemployment rate the sixth equal lowest in the OECD.

“On comparable measures, New Zealand’s 3.2 percent unemployment rate stands against 4 percent in Australia, 3.8 percent in the United Kingdom and the United States and 5.8 percent in Canada. The OECD average is 5.2 percent,” Grant Robertson said.

“While hours worked fell as Omicron affected worker attendance through illness and self-isolation, businesses are continuing to hire despite the pandemic, ongoing supply chain disruptions and the Ukraine war.

“The investments made by the Government to keep businesses open and Kiwis in work has paid dividends. Projections of 10 percent unemployment were avoided because of the actions we’ve taken, and today’s number highlight how successful our plan to keep and support New Zealanders into work has been. The volatile environment is likely to see unemployment move around a bit, but we are heading in the right direction.

“Our new fiscal rules will ensure we are taking a balanced approach and controlling spending and targeting at those who need it most, keeping a lid on debt and able to make important investments in infrastructure,” Grant Robertson said.

“Today’s figures show the number of Māori and Pacific unemployed has fallen by 2.4 percent and 3.7 percent annually, which is a very encouraging result,” Carmel Sepuloni said.

“Our focus on programmes and support services for young Māori such as Mana in Mahi and He Poutama Rangatahi are working and making a big difference.

“Also encouraging is the growth in construction jobs, with more New Zealanders in apprenticeships and with our building programme taking shape it is further proof this Government’s hard work in addressing decades of under-investment in housing and other infrastructure is paying off,” Carmel Sepuloni said.

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