Statistics New Zealand reports a net loss of 21,000 jobs, a decline in youth employment, and a slowing annual earnings growth in 2022.

Statistics New Zealand's latest report indicates a weakening labor market, with a net loss of 21,000 filled jobs over the past year, particularly impacting youth aged 15-24, who saw a decline of 25,000 jobs. Auckland and Wellington experienced significant reductions, especially in construction and accommodation sectors. Annual earnings grew by only 0.8%, the slowest since 2019, and unemployment is projected to rise to 5.5%.

October 28, 2024
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