Articles tagged Unemployment

The Reserve Bank has left the official cash rate or OCR at 1.75 percent for the tenth consecutive decision. In a statement this morning the RBNZ said it expected the rate to stay at 1.75 percent for “some time to come”, with the risks of either cuts or increases evenly balanced.

Unemployment and underemployment continued to fall in the March 2018 quarter, according to quarterly labour market statistics released by Stats NZ today. The unemployment rate is now 4.4 percent, the lowest since the December 2008 quarter. This represents a decrease of 0.1 percent from the previous quarter and an annual decrease of 0.5 percent.

Finance Minister Grant Robertson expects new Reserve Bank Governor Adrian Orr to review the bank's modelling that currently shows unemployment cannot go any lower without generating an inflation surge. Bernard Hickey reports.

Updated

In the last set of jobs figures before the election, Statistics New Zealand has reported surprisingly weak jobs growth and still-subdued wage growth in the June quarter.