Unemployment rate at 3.4 percent – Media release
1 February 2023
The seasonally adjusted unemployment rate was 3.4 percent in the December 2022 quarter, compared with 3.3 percent last quarter, Stats NZ said today.
“The unemployment rate, as measured by the Household Labour Force Survey (HLFS), has remained at or near historic lows since the September 2021 quarter,” work and wellbeing statistics senior manager Becky Collett said.
The underutilisation rate — a broader measure of spare labour capacity which includes those unemployed, underemployed, and the potential labour force — rose to 9.4 percent, from 9.0 percent last quarter. The primary contribution to higher underutilisation came from increases in the potential labour force.
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