Construction boom helps unemployment rate fall back under five per cent

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The unemployment rate is back under five per cent.

Unemployment fell from six to five per cent in three months to December, but many workers are trapped in the wrong jobs.

Source: 1 NEWS

After a slight lift to 5.2 per cent last quarter, Statistics New Zealand says the rate has dropped again to 4.9 per cent in the March 2017 quarter.

The employment boost came as a result of more jobs in construction, accommodation and food services.

The construction boom in regions other than Auckland and Canterbury, saw 32,300 more jobs added.

Waikato saw 3,600 more people working in construction.

However, it isn't all good news as annual wage inflation remained flat at 1.6 per cent, while the consumers price index (CPI) increased by 2.2 per cent.

The growth in private sector wages was the lowest it has been since the June 2010 quarter.

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