Labour market statistics provide a picture of the New Zealand labour market, including unemployment and employment rates, demand for labour, and changes in wages and salaries.
Key facts
In the March 2024 quarter, compared with the December 2023 quarter, the:
- unemployment rate was 4.3 percent, compared with 4.0 percent
- underutilisation rate rose to 11.2 percent, up from 10.7 percent
- employment rate fell to 68.4 percent, down from 69.0 percent.
In the year to the March 2024 quarter:
- all salary and wage rates (including overtime) increased 4.1 percent
- average weekly earnings (including overtime) for full-time equivalent employees (FTEs) increased to $1,593
- average ordinary time hourly earnings increased to $40.96.
Employment at a glance (seasonally adjusted) | March 2024 | Quarterly | Annual | |
Percent | Percentage points | |||
Unemployment rate | 4.3 | 0.3 | 0.9 | |
Underutilisation rate | 11.2 | 0.5 | 2.1 | |
Employment rate | 68.4 | -0.6 | -1.2 | |
Labour force participation rate | 71.5 | -0.3 | -0.6 | |
(000) | Percent | |||
Unemployed | 134 | 8.5 | 30.2 | |
Underutilised | 355 | 4.9 | 26.9 | |
Employed | 2,939 | -0.2 | 1.2 | |
Working-age population | 4,296 | 0.6 | 3.1 | |
Wages at a glance (not seasonally adjusted) | Index | Percent | ||
Wage inflation (salary and wage rates, | All sectors | 1382 | 0.9 | 4.1 |
Private sector | 1384 | 0.8 | 3.8 | |
Public sector | 1385 | 1.2 | 5.6 | |
LCI analytical unadjusted | 1668 | 1.0 | 5.4 | |
Dollars | Percent | |||
Average ordinary time hourly earnings | 40.96 | 0.3 | 5.2 | |
Hours at a glance (seasonally adjusted) | Hours | Percent | ||
Average weekly paid hours for FTEs (QES) | Ordinary time | 38.22 | 0.6 | 0.8 |
Total | 38.86 | 0.5 | 0.6 | |
Hours (millions) | Percent | |||
Total weekly paid hours (QES) | 75.8 | 1.2 | 4.2 | |
Total actual weekly hours worked (HLFS) | 99.7 | 0.4 | 2.2 | |
| Note: LCI – labour cost index QES – Quarterly Employment Survey HLFS – Household Labour Force Survey FTEs – full-time equivalent employees Due to rounding, changes do not always sum to the published totals. | ||||
Unemployment
The seasonally adjusted unemployment rate was 4.3 percent in the March 2024 quarter, compared with 4.0 percent last quarter.
- For men, the unemployment rate was 4.0 percent, compared with 3.7 percent last quarter.
- For women, the unemployment rate rose to 4.8 percent, up from 4.3 percent last quarter.
The seasonally adjusted number of unemployed people rose to 134,000 (up 10,000) over the quarter.
| Quarter | Men | Women | Total |
| Mar-10 | 5.6 | 6.3 | 5.9 |
| Jun-10 | 6.7 | 6.5 | 6.6 |
| Sep-10 | 5.6 | 6.6 | 6.1 |
| Dec-10 | 6 | 6.5 | 6.2 |
| Mar-11 | 5.7 | 6.4 | 6 |
| Jun-11 | 6 | 6.1 | 6.1 |
| Sep-11 | 5.6 | 6.3 | 6 |
| Dec-11 | 6.1 | 6 | 6.1 |
| Mar-12 | 6.1 | 6.7 | 6.4 |
| Jun-12 | 6.2 | 6.7 | 6.4 |
| Sep-12 | 6.6 | 6.9 | 6.7 |
| Dec-12 | 6 | 6.7 | 6.3 |
| Mar-13 | 5.2 | 6.5 | 5.8 |
| Jun-13 | 5.5 | 6.5 | 6 |
| Sep-13 | 5.5 | 6.2 | 5.8 |
| Dec-13 | 5 | 6.4 | 5.7 |
| Mar-14 | 5.1 | 6.1 | 5.6 |
| Jun-14 | 4.6 | 6 | 5.3 |
| Sep-14 | 4.6 | 6.1 | 5.3 |
| Dec-14 | 4.8 | 6.3 | 5.5 |
| Mar-15 | 5.2 | 5.9 | 5.5 |
| Jun-15 | 4.8 | 6.3 | 5.5 |
| Sep-15 | 5.2 | 6.1 | 5.7 |
| Dec-15 | 4.7 | 5.3 | 5 |
| Mar-16 | 5 | 5.6 | 5.3 |
| Jun-16 | 4.7 | 5.5 | 5.1 |
| Sep-16 | 4.7 | 5.3 | 5 |
| Dec-16 | 4.8 | 5.8 | 5.3 |
| Mar-17 | 4.3 | 5.6 | 4.9 |
| Jun-17 | 4.8 | 5 | 4.9 |
| Sep-17 | 4.1 | 5.4 | 4.7 |
| Dec-17 | 4 | 5 | 4.5 |
| Mar-18 | 3.9 | 4.8 | 4.4 |
| Jun-18 | 4.4 | 4.9 | 4.6 |
| Sep-18 | 4 | 4 | 4 |
| Dec-18 | 4.4 | 4.2 | 4.3 |
| Mar-19 | 3.8 | 4.5 | 4.2 |
| Jun-19 | 3.7 | 4.4 | 4.1 |
| Sep-19 | 3.8 | 4.4 | 4.1 |
| Dec-19 | 3.9 | 4.3 | 4.1 |
| Mar-20 | 4 | 4.4 | 4.2 |
| Jun-20 | 3.6 | 4.6 | 4.1 |
| Sep-20 | 4.8 | 5.6 | 5.2 |
| Dec-20 | 4.5 | 5.4 | 4.9 |
| Mar-21 | 4.6 | 4.7 | 4.6 |
| Jun-21 | 3.8 | 4.2 | 4 |
| Sep-21 | 3.3 | 3.3 | 3.3 |
| Dec-21 | 3 | 3.4 | 3.2 |
| Mar-22 | 3.1 | 3.4 | 3.2 |
| Jun-22 | 3.1 | 3.6 | 3.3 |
| Sep-22 | 2.9 | 3.7 | 3.3 |
| Dec-22 | 3.3 | 3.5 | 3.4 |
| Mar-23 | 3.2 | 3.6 | 3.4 |
| Jun-23 | 3.4 | 3.9 | 3.6 |
| Sep-23 | 3.7 | 4.1 | 3.9 |
| Dec-23 | 3.7 | 4.3 | 4 |
| Mar-24 | 4 | 4.8 | 4.3 |
Underutilisation
The seasonally adjusted underutilisation rate rose to 11.2 percent this quarter, up from 10.7 percent last quarter.
- For men, the underutilisation rate rose to 9.2 percent, up from 8.7 percent last quarter.
- For women, the underutilisation rate was 13.3 percent, compared with 13.0 percent last quarter.
The seasonally adjusted number of underutilised people rose to 355,000 in the March 2024 quarter, up 16,000 over the quarter and 75,000 over the year.
The number of youth aged 15 to 24-years-old who were underutilised increased by 41,400 over the year, comprising over half of the total national increase (not seasonally adjusted).
In the March 2024 quarter, compared with the March 2023 quarter:
- 21,000 more youth were unemployed
- 13,800 more youth were underemployed
- 7,000 more youth were available potential jobseekers.
The number of 15 to 24-year-old unavailable jobseekers showed no statistically significant change over the year.
| Quarter | Mar-23 |
| 15-24 | 117300 |
| 25-34 | 49900 |
| 35-44 | 37300 |
| 45-54 | 34000 |
| 55-64 | 33600 |
| 65+ | 14600 |
| 108400 | 126200 |
|---|---|
| 44500 | 55300 |
| 32600 | 42000 |
| 29400 | 38600 |
| 29400 | 37800 |
| 11400 | 17800 |
| Age group | Mar-24 |
| 15-24 | 158700 |
| 25-34 | 63300 |
| 35-44 | 51500 |
| 45-54 | 39800 |
| 55-64 | 33500 |
| 65+ | 17700 |
| 149300 | 168100 |
|---|---|
| 56800 | 69800 |
| 45900 | 57100 |
| 35400 | 44200 |
| 29600 | 37400 |
| 14200 | 21200 |
Employment
The seasonally adjusted employment rate fell to 68.4 percent, down from 69.0 percent last quarter.
- For men, the employment rate fell to 72.8 percent, down from 73.6 percent last quarter.
- For women, the employment rate fell to 64.1 percent, down from 64.5 percent last quarter.
In the March 2024 quarter, 2,939,000 people were employed.
Labour force participation
The seasonally adjusted labour force participation rate fell to 71.5 percent, down from 71.9 percent last quarter.
- For men, the labour force participation rate fell to 75.8 percent, down from 76.4 percent last quarter.
- For women, the labour force participation rate was 67.3 percent, compared with 67.4 percent last quarter.
The number of people who were not in the labour force (NILF) increased to 1,224,000 in the March 2024 quarter, up 22,000 over the quarter and 61,000 over the year.
Most of the annual growth in the number of working-age people who were NILF came from older people and teenagers. The number of people aged 65 years and over who were NILF rose 27,900, and NILF aged 15 to 19 years rose 16,000 (not seasonally adjusted).
Youth not in employment, education, or training (NEET)
In the March 2024 quarter, the seasonally adjusted proportion of people aged 15 to 24-years-old who were NEET was 12.4 percent.
Two decades of youth employment and education has more information on long-term NEET trends.
Wages
The labour cost index (LCI) all salary and wage rates (including overtime) increased 4.1 percent in the year to the March 2024 quarter, while the unadjusted LCI increased 5.4 percent.
- Private sector wages increased 3.8 percent over the year.
- Public sector wages increased 5.6 percent over the year.
The LCI is often compared with the consumers price index (CPI) to see how wage cost inflation compares with consumer inflation (that is, the change in prices of goods and services bought by households). Annual CPI inflation was 4.0 percent in the year to the March 2024 quarter.
| Quarter | LCI – all salary and wage rates | CPI – all groups |
| Mar-04 | 2.2 | 1.5 |
| Jun-04 | 2.3 | 2.4 |
| Sep-04 | 2.2 | 2.5 |
| Dec-04 | 2.5 | 2.7 |
| Mar-05 | 2.5 | 2.8 |
| Jun-05 | 2.7 | 2.8 |
| Sep-05 | 3.1 | 3.4 |
| Dec-05 | 3 | 3.2 |
| Mar-06 | 3.2 | 3.3 |
| Jun-06 | 3.1 | 4 |
| Sep-06 | 3.2 | 3.5 |
| Dec-06 | 3.2 | 2.6 |
| Mar-07 | 3.2 | 2.5 |
| Jun-07 | 3.3 | 2 |
| Sep-07 | 3.1 | 1.8 |
| Dec-07 | 3.3 | 3.2 |
| Mar-08 | 3.4 | 3.4 |
| Jun-08 | 3.6 | 4 |
| Sep-08 | 4 | 5.1 |
| Dec-08 | 3.5 | 3.4 |
| Mar-09 | 3.3 | 3 |
| Jun-09 | 2.8 | 1.9 |
| Sep-09 | 2.1 | 1.7 |
| Dec-09 | 1.8 | 2 |
| Mar-10 | 1.5 | 2 |
| Jun-10 | 1.6 | 1.7 |
| Sep-10 | 1.6 | 1.5 |
| Dec-10 | 1.7 | 4 |
| Mar-11 | 1.9 | 4.5 |
| Jun-11 | 1.9 | 5.3 |
| Sep-11 | 2 | 4.6 |
| Dec-11 | 2 | 1.8 |
| Mar-12 | 2 | 1.6 |
| Jun-12 | 2 | 1 |
| Sep-12 | 1.9 | 0.8 |
| Dec-12 | 1.8 | 0.9 |
| Mar-13 | 1.7 | 0.9 |
| Jun-13 | 1.7 | 0.7 |
| Sep-13 | 1.7 | 1.4 |
| Dec-13 | 1.6 | 1.6 |
| Mar-14 | 1.6 | 1.5 |
| Jun-14 | 1.7 | 1.6 |
| Sep-14 | 1.6 | 1 |
| Dec-14 | 1.8 | 0.8 |
| Mar-15 | 1.7 | 0.3 |
| Jun-15 | 1.6 | 0.4 |
| Sep-15 | 1.6 | 0.4 |
| Dec-15 | 1.5 | 0.1 |
| Mar-16 | 1.6 | 0.4 |
| Jun-16 | 1.5 | 0.4 |
| Sep-16 | 1.6 | 0.4 |
| Dec-16 | 1.6 | 1.3 |
| Mar-17 | 1.6 | 2.2 |
| Jun-17 | 1.7 | 1.7 |
| Sep-17 | 1.9 | 1.9 |
| Dec-17 | 1.8 | 1.6 |
| Mar-18 | 1.8 | 1.1 |
| Jun-18 | 1.9 | 1.5 |
| Sep-18 | 1.8 | 1.9 |
| Dec-18 | 1.9 | 1.9 |
| Mar-19 | 2 | 1.5 |
| Jun-19 | 2.1 | 1.7 |
| Sep-19 | 2.4 | 1.5 |
| Dec-19 | 2.6 | 1.9 |
| Mar-20 | 2.5 | 2.5 |
| Jun-20 | 2.1 | 1.5 |
| Sep-20 | 1.9 | 1.4 |
| Dec-20 | 1.6 | 1.4 |
| Mar-21 | 1.6 | 1.5 |
| Jun-21 | 2.1 | 3.3 |
| Sep-21 | 2.4 | 4.9 |
| Dec-21 | 2.6 | 5.9 |
| Mar-22 | 3 | 6.9 |
| Jun-22 | 3.4 | 7.3 |
| Sep-22 | 3.7 | 7.2 |
| Dec-22 | 4.1 | 7.2 |
| Mar-23 | 4.3 | 6.7 |
| Jun-23 | 4.3 | 6 |
| Sep-23 | 4.3 | 5.6 |
| Dec-23 | 4.3 | 4.7 |
| Mar-24 | 4.1 | 4 |
In the year to the March 2024 quarter, wages as measured by the Quarterly Employment Survey (QES) also grew.
- Average ordinary time hourly earnings increased to $40.96 (up 5.2 percent)
- Average weekly earnings (including overtime) for full-time equivalent employees (FTEs) increased to $1,593 (up 5.8 percent).
Average hourly earnings up 5.2 percent annually has more information on earnings.
More data
Use Infoshare to access the labour market time series.
Subject category: Work income and spending
Group: Household labour force survey – HLF
Group: Quarterly employment survey – QEM
Group: Labour cost index – LCI
Definitions and metadata
Labour market statistics: March 2024 quarter – Period specific information – DataInfo+ includes data quality notes for the March 2024 quarter, including response and achieved sample rates.
Labour market statistics – DataInfo+ gives general methodology used to produce this release, and related metadata.
Household Labour Force Survey – DataInfo+ gives general methodology used to produce household labour force statistics, and related metadata.
Labour cost index – DataInfo+ gives general methodology used to produce labour cost index statistics, and related metadata.
Quarterly Employment Survey – DataInfo+ gives general methodology used to produce quarterly employment survey statistics, and related metadata.
Technical enquiries
Eva Chippindale
[email protected]
ISSN 2422-8699
Next release
Labour market statistics: June 2024 quarter will be released on 7 August 2024.
