ONLY CHARTS #143
NZ labour market
ONLY CHARTS is only available to paid subscribers.
A 7-day free trial is available below. Group discounts are available here.
Antipodean Macro’s in-depth research is available here.
1. New Zealand’s unemployment rate rose 0.2ppts to 4.6% in Q2, in line with the RBNZ’s May MPS forecast.
Overall labour underutilisation - unemployment and underemployment - rose 0.6ppts to 11.8%.
The rise in unemployment in New Zealand looks ballpark similar to what has occurred in most other high-household-debt economies, except Australia.
2. Surprisingly, the labour force measure of employment rose +0.4% q/q in Q2 but has been more volatile than the payrolls measure in recent quarters.
Keep reading with a 7-day free trial
Subscribe to Antipodean Macro to keep reading this post and get 7 days of free access to the full post archives.