1 November 2017

New government inherits very strong labour market

New Zealand’s strong employment market and dropping unemployment rate reflects the hard work of all our businesses and the confidence they have had in the country’s economic plan over the last nine years, National Party Leader Bill English says.

“The unemployment rate at 4.6 per cent is now the lowest since the beginning of the global financial crisis,” Mr English says.

“At the same time, job growth of 56,000 in the quarter has seen the number of New Zealanders employed rise to nearly 2.6 million, which is the highest ever.

“And in addition, the average wage has increased to $59,840 – up more than 28 per cent over National’s time in office.

“That’s growing businesses, thousands more jobs and thousands more New Zealanders in work and getting ahead. That’s genuine success and a great platform for New Zealand to build on,” Mr English says.

The employment rate at 67.8 per cent and the Labour Force Participation Rate at 71.1 per cent are now both the highest they have ever been.

“These results show the importance of the business sector having confidence in the economic direction of the country,” Mr English says.

“I’d encourage the incoming government to work to maintain this confidence and the confidence of New Zealanders in our successful, open and growing country. They should continue to back New Zealanders.

“It is our intention to hold the new government to account to ensure they don’t fritter away the great gains made by New Zealand workers and businesses in recent years that have given this country the third highest employment rate in the whole of the developed world.”

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