New Zealand unemployment rate up to 5.6 pct in Q2

WELLINGTON, Aug. 5 (Xinhua) -- New Zealand's unemployment rate rose to 5.6 percent in the June 2026 quarter from 5.4 percent in the previous quarter, official data showed on Wednesday.

The broader underutilization rate, which measures unused labor capacity beyond unemployment, increased to 13.8 percent from 12.9 percent in the March quarter, according to Stats NZ, the statistics department.

The number of people employed rose 0.5 percent over the quarter, while annual wage inflation, measured by the labor cost index, was 2 percent, it said, noting that average ordinary-time hourly earnings reached 44.62 NZ dollars (26.2 U.S. dollars), as measured by the quarterly employment survey.

Stats NZ said 166,500 people were unemployed in the June quarter, with 19 percent out of work for more than a year. Around 8,000 more people experienced long-term unemployment than in the same quarter of 2025, Stats NZ labor market spokesperson Abby Johnston said in a statement.

The number of underutilized people increased to 440,000 in the June 2026 quarter from 408,000 in the previous quarter, including an estimated 171,000 unemployed, 154,000 underemployed and 115,000 in the potential labor force, statistics showed.

Youth aged 15 to 24 recorded the largest annual increase in underutilization, with the rate rising to 37 percent from 33.6 percent over the year, the department said.