4 May 2016
New Zealand employment Q1 2016: Largest quarterly growth since Dec 2004
Growth in NZ employment for Q1 2016 come better-than-expected, with New Zealand’s labour force growing 1.5 percent, the largest quarterly growth since December 2004, according to NZ Labour Market Statistics.
The employment change Ccame at 1.2% q/q vs 0.6% consensus and 0.9% prior, the jobless rate stood at 5.7% vs 5.5% exp and 5.3% prior, and the labour cost at 0.4% vs 0.3% vs 0.4% exp and 0.4% prior. The participation rate rose to 69% vs 68.6% exp and 68.4% prior.
According to NZ Labour Market Statistics, the employment growth exceeded population growth over the quarter, although adding that wage inflation remains subdued.
The employment change Ccame at 1.2% q/q vs 0.6% consensus and 0.9% prior, the jobless rate stood at 5.7% vs 5.5% exp and 5.3% prior, and the labour cost at 0.4% vs 0.3% vs 0.4% exp and 0.4% prior. The participation rate rose to 69% vs 68.6% exp and 68.4% prior.
According to NZ Labour Market Statistics, the employment growth exceeded population growth over the quarter, although adding that wage inflation remains subdued.