NZ jobs report for Q1: Unemployment rate 4.7% (vs. 4.9% expected)

Author: Eamonn Sheridan | Category: News

New Zealand employment report for the January to March quarter of 2021

Plenty of beats in the data! More jobs added than expected, jobless rate lower despite a rising participation rate. Strong report. 

Unemployment rate 4.7% 
  • expected 4.9%, prior 4.9%

Employment change 0.6% q/q
  • expected 0.3% q/q, prior 0.6%

Employment change 0.3% y/y
  • expected -0.1% y/y, prior 0.7%

Participation rate 70.4%
  • expected 70.3%, prior 70.2%

Private wages excluding overtime 0.4% q/q
  • expected 0.3% q/q, prior 0.5%

Private wages including overtime 0.4% q/q
  • expected 0.4% q/q, prior 0.5%

Average hourly earnings% q/q
  •  expected 0.7% q/q, prior 1.1%

 more to come  
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