Source: NZCTU
Data released today by Stats NZ on unemployment shows that all is not well in the labour market says Sandra Grey, President of the Council of Trade Unions Te Kauae Kaimahi.
“163,000 people are unemployed, 29,000 more than two years ago. 406,000 people are underutilised – meaning that they want more work but can’t get it. That’s up 51,000 in two years.
“New Zealand now has a higher unemployment rate than the UK, the USA, or Australia.”
Grey says, “Getting a pay rise that meets the cost of living is proving a real problem for working people. According to the Labour Cost Index, 44% of Kiwi workers got no pay rise at all, and 73% of workers got a pay rise less than inflation. That means the majority of workers are falling further behind.”
Young people are being hit hardest in this labour market. “17.3% of 15–24-year-olds are unemployed. The seasonally adjusted NEET (Not in Education, Employment, or Training) rate was at its highest level since December 2009.”
The Māori unemployment rate (11.5%) is more than twice the national rate, and its higher again for Pacific Peoples (11.9%).
“And it’s likely to get worse from here. These figures pre-date the impact of the Iran/US conflict, and most forecasters expect higher unemployment, slower wage growth, and a weakening economy in the months ahead,” says Grey.
“This month’s Budget is the Government’s opportunity to change direction – to invest in New Zealand and the people who keep it running, not impose further cuts. Today’s figures are a warning. Without a change of course, things will get worse and Kiwis will rightly take to the ballot box to vote for a country that works for working people.”