New Zealand's unemployment rate reached 4.8% in Q3 2024, the highest since late 2020.

New Zealand's unemployment rate has risen to 4.8% in the third quarter of 2024, its highest since late 2020, as the economy continues to struggle. This increase is attributed to reduced demand for workers and a decline in labor force participation. Wage growth has also slowed, indicating potential impacts on inflation. The Green Party criticizes government policies for exacerbating unemployment and advocates for a Guaranteed Minimum Income to support affected families.

November 05, 2024
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