Unemployment rate goes up after 11-year low

November 6, 2019
Man and woman with documents in an office, smiling, close up

After trailing downwards, and an 11-year low, unemployment rates have risen in the latest quarter.

Stats NZ today released the seasonally adjusted unemployment rates which show unemployment rose 0.3 per cent to 4.2 per cent in the September quarter.

"While the unemployment rate has returned to the level seen in the March 2019 quarter, it has largely been tracking down since late 2012," prices senior manager Paul Pascoe said.

"Despite the quarterly rise in unemployment, the underutilisation rate, which is a broader measure of spare capacity in the labour market, has fallen to the lowest level in over 11 years."

The seasonally adjusted underutilisation rate fell to 10.4 per cent - the lowest rate since the June 2008 quarter, when it was 9.9 per cent.

"The fall in underutilisation this quarter was driven by a drop in the number of underemployed people, those who work part time but are looking to work more hours," Mr Pascoe said.

The seasonally adjusted number of people who were underutilised fell by 18,000 to 295,000 in the September quarter. It was the first time since the March 2009 quarter that the number of underutilised people has been below 300,000.

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