New Zealand’s jobless fee stays close to historic lows at 3.4 per cent, with extra ladies than ever within the workforce.
Stats NZ revealed on Wednesday the seasonally adjusted unemployment fee for the March 2023 quarter was 3.4 per cent, regular from the earlier quarter.
“Unemployment and under-utilisation rates, as measured by the Household Labour Force Survey, have been sitting at or near record lows for more than a year,” Stats NZ spokeswoman Becky Collett stated.
Under-utilisation dropped from 9.3 per cent to 9.0 per cent.
New Zealand’s unemployment determine stays broadly much like Australia’s, which was final measured at 3.5 per cent.
The figures additionally revealed the best ranges of labour power participation for girls on document.
The seasonally adjusted labour power participation for girls is 67.7 per cent, the best degree for the reason that sequence started in 1986.
“Women’s rates have been steadily increasing over the last 30 years, narrowing the gap in engagement between men and women in New Zealand’s workforce,” Ms Collett stated.
Men’s participation is at 76.4 per cent.
On the identical day, Stats NZ additionally produced new knowledge exhibiting wage progress at document highs.
The labour value index (LCI) was measured at 4.3 per cent within the yr to March – the best degree since measurements started in 1992.
“This aligns with other wage measures, like the unadjusted LCI and average hourly earnings, both of which also had the largest annual increases on record,” Stats NZ spokesman Bryan Downes stated.
The measure is up from 4.1 per cent in December.
Average complete weekly earnings had been up 7.1 per cent within the yr to March, with common strange time hourly earnings now at $NZ38.93 ($A36.28).
Source: www.perthnow.com.au
