New Zealand’s jobless rate falls to 4.7% in Q12021
New Zealand’s unemployment rate fell to 4.7% in Q12021, reveals data from Statistics New Zealand, beating forecasts by analysts and showing an economic recovery.
“There have been some gains in labour market outcomes, especially for women, over the past two quarters. However, annual changes indicate the labour market still hasn’t returned to pre-COVID-19 levels for men or women,” said Sean Broughton, Work, Wealth, and Wellbeing Statistics Senior Manager.
Over the March quarter, employment rose by 15,000, with 14,000 more women in work.
“The Government’s plan to keep people connected to their job and accelerate the recovery has been reflected in these positive results. An extra 32,000 people are in jobs since September 2020, when unemployment peaked at 5.2 percent,” Finance Minister and Deputy Prime Minister Grant Robertson said.
“Our focus is on accelerating the recovery. The vaccination rollout and careful re-opening of our borders provides confidence, particularly to those working in firms and sectors such as tourism that have felt the effects of the pandemic more than most.”
“We also continue to invest heavily in education, skills and training to build back better,” he added.