Data released today showing the unemployment rate has remained the same over the last quarter is encouraging, says Finance Minister, Nicola Willis.
Stats NZ today released its labour market update for the March 2025 quarter, showing unemployment remains at 5.1% – the same result as last quarter.
This is a lower rate of unemployment than either Treasury or the Reserve Bank forecast, said Minister Willis.
The data release also showed that average hourly wages rose 4.5% over the year.
“While this result is encouraging, it reinforces the need for strong fiscal management and economic growth,” said Ms Willis.
“I know people are still struggling in this economy, that’s why on May 22 the Government will deliver a Budget that continues the work to get the books back in order, while building on the foundations we’ve laid to foster economic growth.
“It will be a responsible Budget that secures New Zealand’s future,” she said.
