Unemployment to stay above 6% -- National is failing the jobless

A report out today showing unemployment is expected to remain over 6 per cent for the foreseeable future is grim news for jobseekers, Labour’s social development spokesperson Annette King says.

The bad news is contained in NZIER’s Consensus Forecasts, an average of New Zealand economic forecasts from surveys of economic and financial agency agencies, which was published today.

“The report shows that the combined wisdom of New Zealand’s economists is that the jobs outlook is not expected to improve anytime soon,” Annette King said.

“Economists are saying the labour market recovery is ‘delayed’, with unemployment – currently at 6.8 per cent – not dropping below 6 per cent till late 2012 or early 2013.

“That is bad news for the 159,000 Kiwis who are desperately trying to find work but can’t because jobs are not seen as a top priority by John Key’s Government,” Annette King said.

ENDS

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