26,000 more people may face unemployment as NZ's unemployment rate rises from 4% to 4.3%.
26,000 people may face unemployment before the peak is reached, as March quarter data from Stats NZ revealed an increase in the unemployment rate from 4% to 4.3%, with 134,000 people now unemployed. ANZ economist Henry Russell stated that the strength of the labour market is masked by the catch-up effect in employment levels, which is nearing its end. Without fiscal stimulus, employment activity is expected to slow down further.
May 19, 2024
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