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Investment in jobs vital as unemployment rises
CTU MEDIA RELEASE
06 November 2008
Investment in jobs vital as unemployment rises
The Council of Trade Unions says today that investment in jobs and skills will be vital as we see unemployment on the rise.
Figures released today showed that unemployment is now at 4.2 percent with 6,000 more unemployed than 3 months ago.
Peter Conway, CTU Economist, said “this is the result of the recession and early stages of the fallout from the global financial crisis”.
“We are in a stronger position than many other countries – in the USA unemployment is at 6.1 percent and it is 5.7 percent in the United Kingdom. Also the average rate of unemployment in New Zealand has been 4.3 percent since 2000 compared with 7.7 percent in the 1990s.”
“It is also encouraging that while employment growth is clearly slowing, participation rates in the labour force still remain relatively high.”
“We
must build on that strong base with a major programme to
invest in jobs and people. Measures that the CTU identified
in our paper Short Term Stimulus for Long Term Gain
“The
Government has been actively involved in getting people back
into work and this is why around a quarter of the number
unemployed from the Household Labour Force Survey actually
end up receiving an unemployment benefit. This work has to
continue and be expanded through the job search allowance,
retraining allowance, and other support services including
proposals to allow workers made redundant to retain In Work
Tax Credits.” “Mâori unemployment is at 9.3
percent partly because of a higher proportion of young
people but also due to ongoing discrimination and
disadvantage. While Mâori unemployment is a lot lower now
than in the 1990s, every effort must be made to ensure that
Mâori do not bear a higher burden than others as a result
of a slower economy,” Peter Conway said.
Te Kauae Kaimahi The New Zealand Council of Trade Unions Te Kauae Kaimahi brings together over 350,000 New Zealand union members in 40 affiliated unions. We are the united voice for working people and their families in New Zealand.
ENDSNew Zealand Council of Trade Unions
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