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New Zealand Unemployment Rate

 

New Zealand Unemployment Rate

New Zealand Unemployment Rate

The unemployment rate of New Zealand figures at six and a half percent of the labor force. The labor force includes the figure of people employed in addition to the number of those unemployed yet seeking work. The non-labor force is made up of those who are not job hunting, those who have been committed, and those military service.

For the past twenty years the state has converted the agrarian economy of New Zealand relying on Britain’s concessionary market to a free market economy which is more industrialized and can compete internationally.

 

This active growth has augmented real incomes and yet has unfortunately left behind those at the bottom rung of the ladder broadening and deepening the technological capacities of the developed sector.

The unemployment rate of New Zealand has been growing continuously for almost two years and has reached its present rate of 6.5 percent in the quarter of September.

 

In numerical terms, the population of those unemployed ascended by twelve thousand to reach over a hundred fifty people, and according to the NZ Statistics, the rate of unemployment rose to 6.5 % in the quarter of September 2009. The figure of unemployed people is at its utmost level since the quarter of March 1994.
An increase in the number of unemployed men influenced the swelling in unemployment in the last quarter. Nevertheless, the figure of unemployed women also increases. The figure of unemployed people has increased progressively since the quarter of December 2007.
During the last quarter, the population of employed people fell by seventeen thousand, headed completely by men. Full-time employment of men lessened by fourteen thousand while part-time employment lessened by six thousand.

 

Actual working hours decreased by .7% in the quarter of September 2009, mirroring the .8% decrease in employment. Actual working hours have decreased by 3.1% since the quarter of September 2008.

The participation rate of the labor force decreased from .4% to 68% during the current quarter, partially because of a decrease in the population of people in the labor force. The participation rate is at its lowest since the quarter of March 2008.
 

The unemployment rate of New Zealand has reached a ten-year high of six percent, according to Thursday’s new figures.
New Zealand’s state-funded statistics said that in the last twelve months the population of unemployed increased from forty-eight thousand to one hundred thirty-eight thousand. According to the data, the women were hit the most.
Since the increase in the quarter of September 1988, the 1 percent increase in the quarter of June 2009 was the largest ever according to the Household Labor Force Survey.
The survey further showed the rate of unemployment has grown in each of the past 6 quarters, from a low of 3.5 % in the end of the December 2007 quarter.

Unemployment Rate NZ
 

The current sudden rise was mostly driven by an increase in the population of women filed as unemployed in the end of the June 30 quarter.

Approximately twelve thousand women claimed they had lost their jobs during that time, while the population of men who were unemployed increased by eight thousand.
 

 

  

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