Let’s look at the real unemployment figures

25 February 2009

Media Release

For all our sakes let’s look at the real unemployment figures – 1.3% not the 4.6% some are claiming

A look at the real unemployment figures for New Zealand show we are far better off than commentators are claiming.

Commenting on the latest household survey claiming an unemployment rate of 4.6%, Michael Barnett, Chief Executive of the Auckland Chamber of Commerce, said that a look at the actual figures showed that just 34,000 people are receiving the unemployment benefit in a workforce of 2.85 million. This equates to an unemployment rate of 1.3%.

Comparing like with like, NZ has a far lower unemployment rate to Australia at 4.4% and Canada at 6.6%.

“My biggest problem with the household survey is that it asks people if they can take on more work and if they can, that makes them unemployed – even though they may have limited work.

“We should stop looking for the worst possible news, and instead look at our actual numbers. By any measure we are still doing ‘not too bad’ on an international scale – let’s talk ourselves up where we can,” he urged.

“My second message is to every business in New Zealand that has work available.

“I strongly encourage every job employers have available to be registered. If we do this we can calculate the real job opportunities that are available and make sure that anyone seeking a job has options to look at.”

Mr Barnett said every business could make a contribution to Friday’s Job Summit’s success by ensuring that any jobs they have available are registered and publicized.

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