The seasonally adjusted unemployment rate was 3.3 percent in the September 2022 quarter, unchanged from last quarter, Stats NZ said today.
While the unemployment rate remained level, the underutilisation rate – a broader measure of spare labour capacity – dipped slightly to 9.0 percent, from 9.2 percent last quarter.
“Unemployment and underutilisation rates have been sitting at or near record lows for more than a year,” work and wellbeing statistics senior manager Becky Collett said.
The labour force participation rate rose to 71.7 percent and the employment rate rose to 69.3 percent. Both are the highest rates recorded since the Household Labour Force Survey (HLFS) began in 1986.
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