The December unemployment rate is down from 4.1 to 4 percent. But there underlying trends seen when graphed out ie the European and Maori rates have increased for the past two quarters while Pacific and Asian rates have been declining.
Source
(MELAA = Middle-eastern, Latin American, African)
In respect of the OECD New Zealand is in 14th lowest place:
(left click on images to enlarge)
5 comments:
What has been happening by age-group? I just wondered if the minimum wage is creating higher unemployment among the young - who tend to have low qualifications and life experience.
Mixed picture:
15-19 years dec 18 to dec 19 quarters:
21.3
19.8
17.6
15.6
17.9
20-24
8.3
8.3
6.5
7.5
7.6
25-29
4.1
4.4
3.3
3.9
4.4
Thanks Lindsay. Appreciated.
Mixed - but the growth of unemployment is much stronger at the 15-19 yo age. Remember anyone who is "in the labour force" at this age, is generally not in full-time education. So it is a self-selected group of low-skilled workers, and it would look like they are struggling more to get jobs than, say, the more skilled 25-29 age-group.
So why? One major contender would be the minimum wage - but there may be others. One way would be to look at skill level if they do that.
(The 20-24 is a mix, as most of those who go on to tertiary come into the labour force aged 21-23).
Interesting to see that both UK and USA have lower unemployment rates than NZ
Wondering how different the measurements are in each country?
They should be comparable. These are the notes from the table I took the data from:
1. Harmonised rates are seasonally adjusted, and conform with standard International Labour Organization guidelines for comparability.
2. There are 36 Organisation for Economic Co-operation and Development (OECD) countries with harmonised unemployment rates included in this table.
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