Unemployment Down For September QuarterSocial Services, Work and Income
The fall in unemployment is good news for New Zealand in such a difficult global economy, said the Hon Roger Sowry, Minister of Social Services, Work and Income today.
The official unemployment rate fell 0.3% over the September quarter.
The Household Labour Force Survey figures released today show that seasonally adjusted unemployment is now at 7.4% , down from 7.7% in the June quarter.
Forecasts, from both Private Sector economists and Treasury, have predicted unemployment will peak in the next quarter then begin a steady decline with the stronger expected economic growth expected in 1999.
"While there have been some highly publicised redundancies in industries such as the forestry and motor vehicle assembly sectors, these figures show jobs are still coming through to cover these losses," Mr Sowry said.
Mr Sowry said it was particularly pleasing to see significant growth in the service and sales occupation group, which increased by 21,400 jobs. The majority of these jobs were filled by women.