The job market stormed ahead in the March quarter, with unemployment tumbling to 6.2 per cent in the March quarter, compared with a revised 6.8 per cent in the December quarter.
In a rebound from bad figures in the December quarter, there were 38,000 more people employed this quarter – up 1.7 per cent, Statistics NZ said. That more than reversed the slump in the December quarter when jobs fell 23,000.
The rise in employment came mainly from full-time employment and was across a range of industries.
The number of unemployed people fell 15,000 in the March quarter.
Official unemployment figures have bounced around sharply in recent quarters and economists have been sceptical about their reliability as an indicator of the state of the job market.
Chosen excerpts by Job Market Monitor