Failed economic management drives unemployment jump

Today’s revelation that unemployment is back up to 6.7% confirms that the Government’s approach to economic management simply isn’t working, say Labour’s Finance Spokesperson David Parker and Economic Development Spokesperson David Cunliffe.

“Rising unemployment is joining the list of examples of this Government’s economic policy failures - along with a worsening current account deficit, growing international debt, and a growing wage gap with Australia.

“That’s why we will have another near-zero Budget this month and it’s why unemployment is going up when it should be recovering.  Selling assets, selling farms and selling legislation is not a solution,” said David Parker.

David Cunliffe says National clearly does not have a workable plan for jobs and growth.

“National’s refusal to get seriously behind Kiwi businesses, sectors and regions is now reaping a bitter harvest with more than 160,000 New Zealanders now out of work.

“Poorly executed economic development is a recipe for a longer, deeper recession and growing social misery.

“Re-arranging the deck chairs of government departments may be a whale of a tale, but MoBIE isn’t going to help the hundreds of thousands of Kiwis that have gone on the unemployment scrapheap under National’s watch,” said David Cunliffe.

“The Government should be very concerned with today’s unemployment statistics which show the failure of National’s management of the economy and economic development approach,” said David Parker and David Cunliffe.