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New Zealand – Eleven consecutive quarters of jobs growth

05 August 2015

New Zealand has registered 11 consecutive quarters of jobs growth, with 7,000 more people employed in Q2 2015 compared with Q1, and 69,000 more New Zealanders in work than a year ago, reports scoop.co.nz.

Wage growth has also been strong with the average weekly wage rising by 3.2% over the year to NZD 1,097.27 (USD 721.29), considerably faster than inflation at 0.3%.

The Household Labour Force Survey (HLFS) for the three months ending June 2015 shows a 0.1 percentage point increase in the unemployment rate to 5.9%. However, a rate of labour market participation of 69.3% remains the third highest on record.

Steven Joyce, Tertiary Education, Skills, and Employment Minister, commented: “It’s pleasing to see continuing job growth, despite some economic headwinds. The economy continues to diversify and grow jobs in most regions over the past year, despite sharply lower dairy prices and some international uncertainties.”

“Manufacturing growth is the strongest it’s been since 2010 and the number of people employed in manufacturing is the highest since 2008. Over the past year 24,500 jobs have been created in that sector with 9,500 in the last quarter alone. Employment in construction is now at the highest level ever, increasing by 22,700 in the past year.”

“Overall, 17 out the past 18 quarters have recorded positive employment growth, including the past 11 consecutive quarters,” Mr Joyce concluded.