Unemployment is up again. So to is the number in work, it’s a complex picture:
NZ unemployment rises to 5.7 per cent, jobs also rise
New Zealand unemployment jumped to 5.7 per cent in the December quarter from 5.4 per cent in the September quarter, as record levels of people joined the workforce.
Job numbers were up a better than expected 1.2 per cent in the December quarter, taking annual jobs growth to a strong rate of 3.5 per cent. …
Economists had expected the national unemployment rate to remain steady or fall mildly to about 5.3 per cent, even as job numbers grew, because of the current migration boom adding to the workforce.
That “job numbers” figure doesn’t tell us how many of those jobs are “mcjobs” – short term, low pay, zero hours, no secturity and the like. While the linked article argues that wages are rising in real terms, the rise of the working poor suggests that much is wrong with that picture. Grant Robertson also makes a good point:
5.7% average unemployment rate masks big regional disparity- 8% in Northland,7.8% in Gisborne, 9% in Manawatu/Whanganui #RememberTheRegions
— Grant Robertson (@grantrobertson1) February 3, 2015
We need a much better analysis of what kinds of jobs and conditions are out there in NZ, crude figures are not telling us enough.