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Unemployment Rate At 3.6 Percent
The seasonally adjusted unemployment rate was 3.6 percent in the June 2023 quarter, compared with 3.4 percent last quarter, according to figures released by Stats NZ.
Unemployment, along with underemployment and the potential labour force, is one of the components that comprise underutilisation – a broader measure of spare labour market capacity than unemployment alone.
The underutilisation rate increased from 9.1 percent (revised) to 9.8 percent this quarter. The largest increase came from growth in underemployed part-timers, who wanted and were available to work more hours.
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- Unemployment rate at 3.6 percent
- Annual wage cost inflation remains at 4.3 percent
- Labour market statistics: June 2023 quarter
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