US EditionUnemployment remains unchanged at 5.1%
- New Zealand's unemployment rate remained steady at 5.1 percent in the March 2025 quarter, according to Stats NZ.
- This stability follows rising joblessness and a shift from full-time to part-time work amid a slowly recovering economy and weaker wage growth.
- The labour force had 156,000 unemployed people, up 22,000 annually, with about 21 percent of employed individuals working part-time.
- According to ASB's senior economist Mark Smith, while the unemployment rate may be approaching its highest point, a more sustained economic recovery is necessary before businesses will feel confident enough to expand their hiring.
- The data supports expectations of further Reserve Bank rate cuts to 3.25 percent, aiming to stimulate employment and economic growth.
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Wages grow, unemployment steady
Data released today showing the unemployment rate has remained the same over the last quarter is encouraging, Finance Minister Nicola Willis says. Stats NZ today released its labour market update for the March 2025 quarter, showing unemployment remains at 5.1 per cent, the same as last quarter. This is a lower rate of unemployment than either Treasury or the Reserve Bank forecast. The data release also showed that average hourly wages rose 4.5 p…
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