Data shows Wellington City has lost over 19,000 jobs in the past year -- equal to 11.6% of jobs in the area.
It's been a tough year for the capital, with thousands of public sector roles cut, business closures and insolvencies running thick and fast, and overall low morale.
But is it plausible that one in ten jobs have disappeared?
Maggie Tweedie speaks to Infometrics chief executive and principal economist Brad Olsen.