Unemployment drops - but there's a catch
Unemployment fell in the last three months of 2011 - but the hours worked also fell and the employment rate stayed the same.
Unemployment fell in the last three months of 2011 - but the hours worked also fell and the employment rate stayed the same.
Unemployment fell from 6.6% of the workforce to 6.3%, and the number of people unemployed fell by 7000, according to Statistics New Zealand's quarterly household labour force survey this morning.
However, the number of people employed rose by 3000, while the rate of employment stayed the same, at 63.9%.
"We saw a steady employment rate because the increase in the number of people employed kept pace with the growing working-age population," said industry and labour statistics manager Diane Ramsay.
"The employment rate has not changed for three consecutive quarters."
Some industries are suffering big drops in employment. Retail, accommodation and food services reported a 20.6% fall in employment - mostly in the latter two parts of that group, Construction, too, has been shedding jobs, with a 13.4% or 4000 drop.
Rob Hosking
Thu, 09 Feb 2012
Thu, 09 Feb 2012
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Unemployment drops - but there's a catch
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