New Zealand Unemployment Rate Drops To 4.7% In Q1

By Rtt News Staff Writer9 days ago

The jobless rate in New Zealand came in at a seasonally adjusted 4.7 percent in the first quarter of 2021, Statistics New Zealand said on Wednesday.

That was shy of estimates for 4.9 percent, which would have been unchanged from the previous three months.

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The employment change was 0.6 percent on quarter, steady from the three months prior but surpassing expectations for 0.2 percent.

The participation rate was 70.4 percent in the first quarter - beating forecasts for 70.3 percent and up from 70.2 percent in the previous quarter.

For men, the unemployment rate rose to 4.7 percent, up from 4.5 percent last quarter. For women, the unemployment rate fell to 4.7 percent, down from 5.3 percent.

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