Wages up 3.4 percent, unemployment rises slightly to 3,3

Dr Bryce Wilkinson
Radio NZ - Morning Report
4 August, 2022

New Zealand's labour market continues to squeeze tighter, based on the latest Stats New Zealand quarterly figures.

Wages rose at an annual rate of 3.4 percent, the highest seen in 14 years while unemployment remains very low - though it has risen marginally, to 3.3 percent.

It raises the question - what is the ideal jobless rate?

New Zealand Council of Trade Unions chief economist Craig Renney, and New Zealand Initiative senior fellow Bryce Wilkinson spoke to Corin Dann.


Stay in the loop: Subscribe to updates