Published 5 February 2010
Statistics New Zealand said yesterday the unemployment hit its highest level since the June 1999 quarter, reaching 7.3% (seasonally adjusted) in the December quarter. Unadjusted, the unemployment rate was 6.8% in the December quarter, up from 6.3% in September, 5.8% in June, 4.4% in December 2008.
Statistics NZ said the increases in unemployment & the unemployment rate were mainly due to a rise in the number of people entering the labour force but unable to find work.
Government Statistician Geoff Bascand said the increase in unemployment during the past year was particularly marked among youth (15-24-year-olds), with the unemployment rate for this group rising 6.4 percentage points to reach 18.4%. There were also marked differences in the unemployment rates by ethnic group. The unemployment rate remained high for the Maori (15.4%), Pacific peoples (14%) and Middle Eastern, Latin American &African (17.1%) ethnic groups, while the unemployment rate for the European ethnic group stood at 4.6%.
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Attribution: Statistics NZ release & tables, story written by Bob Dey for the Bob Dey Property Report.