Unemployment rate rises to 7.3 percent

The unemployment rate rose to 7.3 percent in the September 2012 quarter, up from 6.8 percent in the June 2012 quarter, Statistics New Zealand said today.

Employment contracted in the September quarter. A fall of 8,000 people employed brought the employment rate down to 63.4 percent.

The last time the unemployment rate was higher than the current rate was in the March 1999 quarter.

“The unemployment rate has stayed between 6.4 and 6.8 percent over the past two years, and has now risen for the third quarter in a row,” industry and labour statistics manager Diane Ramsay said.

There were 13,000 more people unemployed in the September 2012 quarter – 10,000 more men and 3,000 more women were unemployed.

Employment fell for the second quarter in a row. This fall was reflected in a decrease in the number of men employed full time. In contrast, the number of women employed increased over the quarter.

The Household Labour Force Survey results are based on a representative sample of 15,000 households throughout New Zealand. The survey is designed to produce reliable estimates of the numbers of people employed, unemployed, and not in the labour force.

See also:  Household Labour Force Survey: September 2012 quarter  –  Information release