New Zealand’s unemployment rate edged up to 3.4% in the December 2022 quarter from 3.3% in the September quarter on a seasonally adjusted basis, though it still remains near historic lows, according to Stats NZ. In addition, average weekly earnings jumped in the during the December quarter.

“The unemployment rate, as measured by the Household Labour Force Survey, has remained at or near historic lows since the September 2021 quarter,” said Becky Collett, work and wellbeing statistics senior manager.

In addition, average weekly earnings (including overtime) per full-time equivalent employee rose 7.6% year over year in the December 2022 quarter. Meanwhile, average ordinary time hourly earnings rose by 7.2% to reach NZD 38.19 in the December quarter.

Seasonally adjusted actual hours worked rose 3.6% year over year.