Unemployment Rate falls

The number of those officially unemployed dropped in the last quarter, Social Development and Employment Minister Paula Bennett says.

The Statistics New Zealand rate, which includes those 15 years and over seeking at least an hour of work a week, has fallen to 6.6%.

“It’s been a long haul since the recession, but many New Zealanders are now feeling more optimistic about the future,” says Ms Bennett.

The number of people employed and in work rose by 30,000 over the last quarter to 2,214,000.

“What we’re seeing here is more jobs and more people in work, which are really encouraging signs but it’s a modest recovery.”

“While a drop in the unemployment rate and a rise in employment is good news, we’re yet to see the full effects of the Christchurch earthquake.”

Statistics New Zealand couldn’t collect data after the Feb 22 earthquake.

The number of young people in work has risen by more than 4,200 over the last year to March and the number of young people Not in Education Employment or Training (NEET) has fallen steadily from 10.8% to 9.9%.

“The Youth Unemployment rate went up to 18.8% in the last quarter, but a further 4,200 also going into work is good news.”

“Many young people have made smart decisions about staying in education, going into study, or moving to where the jobs are,” says Ms Bennett.

The Maori unemployment rate went from 15.5% to 16.1% in the March quarter, while Pacific Unemployment rates went from 13.5% to 14%.

Pacific Unemployment rates dropped by 0.4% over the last year and while the Maori Unemployment rate has risen by 1.9%, the rate has continued to slow.

New Zealand’s 6.6% unemployment rate compares to UK (7.7%), Australia (5%) and Ireland (14.9%).

“It is good to see the number of Unemployment Beneficiaries dropped over the last month as more found jobs,” says Ms Bennett.

There are now 58,781 people on an Unemployment Benefit, down 1.9% on the previous month and down % since the start of the year.

The decrease in Unemployment Benefits over April was primarily driven by a drop of 672 young people on welfare.