Unemployment is up to 5.3%. This is lower than many expected, but of course still very hard on the families who have lost their income from work.
Some key data:
- 31,000 fewer jobs than six months ago
- 31,000 more unemployed
- 33,000 more not in the labour force (not working but not looking for a job)
- NZ has gone from 7th lowest to 17th lowest unemployment rate in OECD. So now at around the median.
- Public sector wages up 2.5% from a year ago but private sector only up 1.6%
- Average FT salary in public sector $84,343 and private sector $62,617