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Labour force data released

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New data for the 2021 September quarter shows the unemployment rate for the Bay of Plenty hit its lowest level since at least 2019, recording 3.8 per cent.

Unemployment in the region peaked at 5.6 per cent in the September and December 2020 quarters, with figures reported in the Household Labour Force Survey steadily tracking back down in 2021.

This is on par with the national unemployment rate which hit its lowest level on record this September quarter, sitting at 3.4 per cent.

The Statistics New Zealand figures were released as part of its Labour Market Statistics for the September quarter, which also includes the Labour Cost Index Survey, highlighting increases in salary and wage rates across the board, nationally.

This data set shows retail, trade and accommodation in the private sector saw the biggest shift, increasing 3.2 per cent when compared with the same quarter in 2020.

Education and training in the public sector saw a near 3 per cent increase, while agriculture, forestry, and fishing, manufacturing, and professional, science, tech, admin and support services in the private sector all increased more than 2 per cent.

Overall, the public sector saw a 1.9 per cent increase in salaries and wages compared with the same quarter in 2020, while the private saw a 2.5 per cent increase for the same period.

The cost of living was most commonly cited as the reason for the increases (58 per cent) followed by matching market rates (16 per cent) and retaining staff (16 per cent).

Read the full data sets here.

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Monday, November 15, 2021

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