Employment and labour force participation continued to rise strongly in the March quarter, while unemployment remains at 6.0 per cent, according to figures released by Statistics New Zealand today.
Labour market and households statistics manager Diane Ramsay said there were more people in the labour market, with the participation rate surpassing the previous high in late 2008. “The rise in participation is on the back of more people in work, while the number of people looking for work remains unchanged.”
The labour force participation and employment rates both increased 0.4 percentage points over the quarter. “Employment continues to rise, with growth seen across a number of regions, industries, and demographics,” Ms Ramsay said.
Annually, the number of people employed rose 3.7 per cent, while demand for workers from established businesses increased by 2.6 per cent.
Average wages were up 1.6 per cent in the past year, just above annual consumer price inflation of 1.5 per cent. Average ordinary time hourly earnings, as measured by the QES, rose 2.5 percent over the year.
The Reserve Bank is under less pressure to raise interest rates, given the soft growth in wages and reduced pressure on the job market.
