*** percent of the labor force in New Zealand were unemployed as of the first quarter of 2020. According to world bank estimates, the annual share of the labor force that were unemployed in 2019 was at **** percent. By international standards, however, this value is relatively low.

Employment opportunities

After experiencing an economic downtown following the 2008 global financial crisis, the labor market in New Zealand has been slow to recover to pre-recession levels. This can be observed in the unemployment rate of the country, as well as in other economic indicators. That’s not to say the labor market isn’t improving - by 2020, employment in the country was estimated to continue increasing to **** million people. However this estimate was made before the coronavirus crisis in early 2020. The country’s labor force participation rate, a measure of an economy’s active labor force, has also continued to increase.

The job market

New Zealand’s employment landscape is dominated by the services sector; over ** percent of the workforce are employed in this economic sector. Although the agriculture and goods-producing sectors have been historically strong, the shift towards the services sector is becoming more evident across the nation.

Unemployment Rate in New Zealand remained unchanged at 5.10 percent in the first quarter of 2025 from 5.10 percent in the fourth quarter of 2024. This dataset provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the unemployment rate in New Zealand increased by 1.1 percentage points (+29.49 percent) compared to 2023. In total, the unemployment rate amounted to 4.87 percent in 2024. The unemployment rate refers to the share of the economically active population currently without work but in search of employment. The unemployment rate does not include economically inactive persons such as the long-term unemployed, children, or retirees.Find more key insights for the unemployment rate in countries like Tonga and Fiji.

Key information about New Zealand Unemployment Rate

• New Zealand Unemployment Rate increased to 5.10% in Dec 2024, from the previously reported figure of 4.80% in Sep 2024.
• New Zealand Unemployment Rate is updated quarterly, available from Mar 1986 to Dec 2024, with an average rate of 5.45%.
• The data reached an all-time high of 11.20% in Sep 1991 and a record low of 3.20% in Mar 2022.
• The data is reported by reported by Stats NZ.
• In the latest reports, New Zealand Population reached 5.36 million people in Dec 2024.

Employment Rate in New Zealand decreased to 67.20 percent in the first quarter of 2025 from 67.30 percent in the fourth quarter of 2024. This dataset provides - New Zealand Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The number of employed people in New Zealand was approximately 2.92 million people in 2024. Between 1980 and 2024, the number rose by around 1.40 million people, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the number will increase by about 80 thousand people.The indicator describes the number of employed people. This refers to persons who during a pre-defined period, either: a) performed wage or salary work, b) held a formal attachment to their job (even if not currently working), (c) performed for-profit work for personal or family gain , (d) were with an enterprise although temporarily not at work for any specific reason.

Prices in New Zealand rose by 1.72 percent in 2020. Central bankers at the Reserve Bank of New Zealand were surely relieved to see the rebound from the dangerously low .29 percent inflation in 2015.

What is inflation?

Inflation is the rise in price levels in an economy. 2 percent inflation means 100 New Zealand dollars will be worth 98 dollars in one year. While the precise inflation target varies, most economists agree that inflation between 2 to 3 percent is optimal for an economy. High inflation can lead to higher unemployment because firms would rather wait and higher workers at the same price using future dollars, making the labor relatively cheaper. However, it affects the trade balance because of the relatively higher purchasing power of foreign currencies.

Other risks of inflation and deflation

Inflation helps a country with higher national debt when the debt is in the local currency, because the country can repay with the future dollars which are relatively cheaper. Deflation, then, helps when debts are in a foreign currency. The main problem with deflation is that investors prefer to hold their money, waiting to invest until it is worth more. This is particularly true of countries like New Zealand, where the lion’s share of employment is in the services sector.