Eleven straight quarters of job growth   5 Aug 2015

The latest labour market data shows continued job growth, with 7,000 more people employed over the last quarter and 69,000 more New Zealanders in work than a year ago.

Wage growth has also been strong with the average weekly wage rising 3.2 per cent over the year to $1,097.27, considerably faster than inflation at 0.3 per cent.

Today’s Household Labour Force Survey (HLFS) for the June quarter shows a 0.1 per cent increase in the unemployment rate to 5.9 per cent. This is due to growth in the working age population exceeding that of job growth in the quarter.

The rate of labour market participation at 69.3 per cent remains the third highest on record.

“It’s pleasing to see continuing job growth, despite some economic headwinds,” says Tertiary Education, Skills and Employment Minister Steven Joyce. “The economy continues to diversify and grow jobs in most regions over the past year despite sharply lower dairy prices and some international uncertainties.

“Manufacturing growth is the strongest it’s been since 2010 and the number of people employed in manufacturing is the highest since 2008. Over the past year 24,500 jobs have been created in that sector with 9,500 in the last quarter alone. Employment in construction is now at the highest level ever, increasing by 22,700 in the past year.

“Overall 17 out the past 18 quarters have recorded positive employment growth, including the past 11 consecutive quarters.” says Mr Joyce.

Other highlights include:

· The overall NEET rate fell from 11.8 per cent to 11.5 per cent with more 15-19 year olds either moving into the workforce or education;

· Over the past year 11,000 jobs have been created in the Bay of Plenty;

· An increase of 29,600 jobs in Auckland, driven by retail trade and accommodation; and

· New Zealand has the fifth highest employment rate in the OECD.

“It’s clear some regions are faring better than others as the fortunes of different industries change,” Mr Joyce says. “The Government’s Business Growth Agenda will stay focused on encouraging more investment in jobs and growth throughout the country through initiatives like the Government’s Investment Attraction Programme, the regional growth programmes, and the recently announced regional migration changes.”

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