According to Statistics New Zealand, the unemployment rate in New Zealand stood at 3.2% in the fourth quarter, down from 3.3% in the previous quarter.
Becky Collette, senior manager of Work and Wellbeing statistics, said: “The labor market continues to show the tightness we saw in 3Q21, with both the unemployment rate and the underutilization rate. Underutilization is still low.“
The fourth-quarter unemployment rate was also the lowest since records began in 1986.
In Q4 21, 46.3% of workers surveyed about job security said: The likelihood of losing your job or business involuntarily in the next 12 months is close to zero. This is up from 42.5% a year ago.
The labor force participation rate remained at a high level of 71.1% in 4Q21.