New Zealand’s Unemployment Rate Down to 3.2% in Q4/21

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.

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