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Unemployment Rate At 3.9 Percent
The seasonally adjusted unemployment rate was 3.9 percent in the September 2023 quarter, compared with 3.6 percent last quarter, according to figures released by Stats NZ today.
“The unemployment rate increased over the past year, up from 3.2 percent in the September 2022 quarter,” work and wellbeing senior manager Victoria Treliving said.
The underutilisation rate was 10.4 percent in the September 2023 quarter. This compared with 9.9 percent from the previous quarter, and 8.9 percent from the previous year. Underutilisation is a broader measure of spare labour market capacity than unemployment alone.
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