Unemployment on the Rise

August 10, 2012 New Zealand Finance

Unemployment on the RiseThe number of New Zealanders who are in paid employment has fallen, with decreased employment rates and a smaller number of people participating in the work force.

On August 9th Statistics New Zealand issued a new media release with details of the employment rte in New Zealand over the June quarter, showing that unemployment rose slightly compared to the previous quarter.

The new report shows that over the June quarter the overall employment level fell by 2 000 people, with 5 000 fewer males holding jobs, but 3 000 more females in employment. The unemployment rate now stands at 6.8 percent, approximately 0.1 percent higher than in the previous quarter.
The new unemployment rate is the highest seen in new Zealand since June 2010.

The number of individuals who are not part of the work force also rose by 1.1 percent, with 1.1 million New Zealanders no longer being part of the potential labour pool of the country. According to Statistics New Zealand, the decreased labour force was due primarily to a smaller number of males who are unable to work, with the number of females who are able to work remaining the same as the previous quarter.

Photo by XJPHOTO