Unemployment rate remains 3.4 percent – Media release
3 May 2023
The seasonally adjusted unemployment rate was 3.4 percent in the March 2023 quarter, unchanged from last quarter, according to figures released by Stats NZ today.
The underutilisation rate – a broad measure of spare labour capacity that includes those unemployed, underemployed, and in the potential labour force – decreased to 9.0 percent, from 9.3 percent last quarter (revised).
“Unemployment and underutilisation rates, as measured by the Household Labour Force Survey, have been sitting at or near record lows for more than a year,” work and wellbeing statistics senior manager Becky Collett said.
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