Article Summary
New Zealand’s unemployment rate remained steady at 5.1% in the March 2025 quarter, but the number of unemployed people has held steady at around 156,000. Full-time jobs fell, and hours worked decreased by 2.9% annually, indicating that despite the steady unemployment rate, workers are losing valuable hours. Māori and Pacific unemployment continues to rise, reaching 10.5% and 10.8%, respectively. Donald Trump’s tariffs pose a “material risk” to New Zealand’s economy, affecting meat, seafood, and wine exports.
Original Post
New figures show a softening labour market, rising hardship for Māori and Pacific workers, and warning signs from the Reserve Bank, writes Catherine McGregor in today’s extract from The Bulletin.
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Jobless rate holds steady, surprising economists
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What This Means for You
- Consider part-time job opportunities if full-time positions are unavailable, as part-time work is growing despite the overall decline in full-time employment.
- Monitor your work hours and negotiate for more hours or consider multiple part-time jobs to maintain income stability, especially if you’re a Māori or Pacific worker.
- Stay informed about potential tariffs or changing global export conditions, especially if you work in the meat, seafood, or wine sectors, to prepare for potential economic impacts.
- Be aware that the Reserve Bank may lower interest rates in response to global economic instability, potentially affecting mortgage payments and deposits.
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