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Thursday, 8 May 2014

Labour force participation rate up

The Household Labour Force Survey, published yesterday, shows employment was up 0.9% - that's 22,000 people in the March quarter and up 3.7% in the past year.
While unemployment remained flat at 6 per cent, it was driven by a record labour force participation rate of 69.3%. That compares with 64.7% in Australia. In other words, a greater percentage of Kiwis are out working or looking for work than Aussies.
Female participation rose to 63.7%, a new record high. 
These results show the growing strength of the New Zealand economy under Nationals responsible economic management. New Zealand’s unemployment rate continues to be lower than most OECD countries. The average unemployment rate across the OECD is 7.6%.