Unemployment Rate Hits 5.6 Percent as Parties Clash Over Economic Direction

New Zealand's unemployment rate has risen to 5.6 percent, according to figures released by Stats NZ. The seasonally adjusted unemployment rate increased from 5.4 percent in the March quarter to 5.6 percent in the three months to June.

The broader underutilisation rate rose from 12.9 percent to 13.8 percent, which includes unemployed and underemployed people as well as those who want work but are not actively seeking it.

Labor described the figures as a 'damning verdict' on Prime Minister Christopher Luxon's economic management. Labor finance and economy spokesperson Barbara Edmonds said that unemployment had reached its highest level in 11 years, with 171,000 New Zealanders now out of work.