Statistics New Zealand revealed today that in the three months to June 30, the unemployment rate fell to 4 per cent, from 4.6 per cent at the end of March. Ahead of the release, most economists predicted the unemployment rate would fall, but the drop was much sharper than expected. Pressure for workers also saw a marked pick up in the labour cost index, which rose to 2.1 per cent from 1.6 per cent in March, Statistics New Zealand said. "A lot of firms reported trying to match market rates and retain staff in a tight labour market," Statistics New Zealand business prices deliver manager Bryan Downes said. Women are still more likely to be unemployed (4.3 per cent) than men (3.8 per cent).

Source: New Zealand Herald August 03, 2021 22:49 UTC