New Zealand's unemployment rate rose for a fifth consecutive quarter to a six-year high of 5.0% in the three months to March, official figures released today show.
Unemployment in New Zealand, which sank into recession last year, has risen from a low of 3.4% at the end of 2007 and the seasonally adjusted rate rose 0.3 percentage points in the March quarter to its highest since March 2003.
The number of unemployed rose by 7000 during the March 2009 quarter to reach 115,000, Statistics New Zealand (SNZ) said.
The labour force participation rate - those in jobs or looking for work - fell by 0.7 percentage points to 68.4% during the March quarter.
Social Development and Employment Minister Paula Bennett said New Zealand was faring better than other developed countries.
"However, the upward trend in unemployment is hitting young people particularly hard. That's worrying and is a priority for this government,'' Ms Bennett said.
"We know unemployment will continue to rise this year. The focus of this government remains job creation and growth.''
AFP
