In the fourth quarter of 2024, the unemployment rate in New Zealand rose to a seasonally adjusted 5.1 percent, as reported by Statistics New Zealand on Wednesday. This figure aligns with market expectations and marks an increase from the 4.8 percent recorded in the previous quarter.
There was a modest decline in employment, down 0.1 percent, which was better than the anticipated drop of 0.2 percent, following a 0.5 percent decrease in the preceding three-month period.
The unemployment rate among men was 4.9 percent, slightly up from 4.7 percent in the third quarter. For women, the jobless rate rose to 5.2 percent from 5.0 percent in the previous quarter.
The participation rate stood at 71.0 percent, falling short of the projected 71.1 percent and down from 71.2 percent noted in the third quarter.
Overall, salary and wage rates, including overtime, saw a rise of 3.3 percent. Meanwhile, the average weekly earnings for full-time equivalent employees, also including overtime, increased to NZ$1,651.
