Decade-High Unemployment Hits New Zealand Amid Labour Crisis
New Zealand's unemployment rate has reached its highest point in over a decade, according to data released today. The rate of 5.6 percent is a major concern for the country's labour market, says Sandra Grey, President of the NZ Council of Trade Unions Te Kauae Kaimahi.
The number of people unemployed in the June quarter stands at 171,000, with 69,300 individuals having been out of work for over six months - a staggering 40 percent of all those unemployed. This has led to a broader measure of labour market capacity showing that 440,000 people are underutilised in New Zealand, up from 32,000 in just three months.
Young people and Māori and Pacific Peoples continue to be disproportionately affected by unemployment, with a 19.5 percent increase in the number of unemployed 15-24 year olds this year and unemployment rates for these groups remaining double that of the general population.
The Government has been criticized for its handling of the economy, with Grey stating that 'we do not have to accept this' and calling for a change in policy to prioritize lifting wages and investing in jobs rather than suppressing them. The choice is on the ballot for November 7th.