Story perspectives
New Zealand's Job Market Stagnates, Unemployment Hits 5.1%
5/11/2025
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Story summary
- New Zealand's labor market remains stagnant, with an unemployment rate of 5.1%, the highest since 2020.
- The country experienced a loss of around 20,000 jobs over the past year.
- Wage growth has slowed to 0.4%, marking the lowest increase in three years.
- The Reserve Bank may reduce the Official Cash Rate by up to 75 basis points in 2025.
