New Zealand's Q1 2024 unemployment rate rose to 4.3%, the highest in three years, with underutilization at 11.2%.
New Zealand's unemployment rate reached 4.3% in Q1 2024, according to Stats NZ, a 0.9 percentage point increase from the previous year. This marks the highest unemployment rate in three years. Underutilization, a broader measure of spare labor capacity, rose to 11.2% from 10.7% last quarter and 9.1% a year earlier. The number of unemployed increased by 31,000 since the previous year.
April 30, 2024
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