New Zealand’s filled jobs rose 0.3% in March 2026 from the previous month to 2.35 million, the highest level in 14 months, according to Statistics New Zealand. Employment has increased by 14,600 from the recent trough in July but remains around 39,000 below its level two years earlier.
The recent improvement in employment largely reflects earlier support from low interest rates, which bolstered business and consumer confidence and helped stabilize hiring. Economists expect the economy to have recorded modest growth in the first quarter, even as rising fuel costs in March—linked to the conflict involving Iran—began to drag on activity.
However, sentiment has since deteriorated amid persistent geopolitical tensions. Business confidence fell in the first quarter to its lowest point since mid-2024, as higher costs compressed profit margins and firms reported job cuts. A majority of businesses also anticipate further headcount reductions through June 2026, pointing to a weakening labor-market outlook despite the recent gains in employment.
