Wow that is a big jump. I always thought the 6.1% figure last quarter was probably too optimistic (remember the HLFS is only a survey, albeit a large one) so I was expecting a small increase. But this is a large increase.
I tend to think one almost forgets the March 2010 quarter figure (as no one really thinks unemployment has risen by 0.7% in a quarter) and focus on that it has gone from 7.1% in Dec to just 6.8% in June 2010. That is not much at all.
- Stats NZ need to consider why such huge variations from one quarter to another quarter. This shakes confidence a bit in the HLFS.
- The Govt becomes far more vulnerable to opposition attacks, now they no longer have “the biggest quarterly employment growth” in history to rely on.
- It is becoming quite obvious the recovery is not that robust and needs to be stronger, and this puts pressure on the Government to consider further growth friendly policies – yes even those put out by the 2025 taskforce