23.9 C
Auckland
Saturday, February 8, 2025

Popular Now

Unemployment to hit four-year high as job market slows

NZ unemployment news

New Zealand’s unemployment rate is expected to reach 5.1% for the December quarter, marking a four-year high as the job market continues to feel the effects of a slow economy.

Despite signs of economic recovery, the labour market lags behind, with an estimated 30,000 jobs lost over the past year due to government restructuring and industrial layoffs.

A drop in job advertisements and some young workers opting for further education instead of job-hunting have cushioned a sharper rise in unemployment.

Meanwhile, wage growth has slowed to around 3%, a stark contrast to the ‘pandemic’-driven increases, as job security now outweighs salary demands.

Economists predict a slow recovery until lower interest rates boost household confidence and spending and business activity, with the Reserve Bank expected to cut the official cash rate to 3.75% this month.

Image credit: Getty Images

Promoted Content

No login required to comment. Name, email and web site fields are optional. Please keep comments respectful, civil and constructive. Moderation times can vary from a few minutes to a few hours. Comments may also be scanned periodically by Artificial Intelligence to eliminate trolls and spam.

3 COMMENTS

  1. NZ in the vice like grip of social narcosis, gripped by globalists and locked into corporate techno fascism and genetic engineering , racing toward a destiny of destitution, depopulation and ‘deindustrialisation’ courtesy of the 2035 UNEP / United Nations Framework Convention on Climate Change (UNFCCC) commitment made by Simon Watts to pay $billions in pointless virtue signalling “carbon” credits.
    National suicide is the name, globalism is the game.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trending

Sport

Daily Life

Opinion

Wellington
clear sky
21.8 ° C
21.8 °
21.8 °
56 %
6.2kmh
0 %
Sat
21 °
Sun
21 °
Mon
22 °
Tue
17 °
Wed
18 °