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Unemployment rate expected to hit 9 year high

Author
Newstalk ZB,
Publish Date
Wed, 6 Aug 2025, 9:01am
Photo / File
Photo / File

Unemployment rate expected to hit 9 year high

Author
Newstalk ZB,
Publish Date
Wed, 6 Aug 2025, 9:01am

Last year's recession is still being felt in the job market. 

Stats NZ data —due out this morning— is expected to show unemployment reached a nine-year high of 5.3% in the June quarter. 

The economy's been back in growth since the latter part of last year. 

But ASB Senior Economist Mark Smith told Mike Hosking the economy has lost about 40,000 jobs since the late 2023 peak. 

More full-time roles have been lost than part time, he explained, and the labour market is getting that much weaker.  

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