New Zealand has been experiencing price inflation and labour market downturns. The recession has put a lot of low wage earning families in hardship, and increased unemployment in New Zealand.
Labour Market Downturn for low wage jobs:
The Linked Employer-Employee Data: March 2010 quarter reported decreases in jobs in the following industries:
- Manufacturing (down 9,932 jobs, 4.7 percent)
- Construction (down 7,380 jobs, 6.4 percent)
- Administrative and support services (down 3,823 jobs, 4.5 percent)
- Retail trade (down 3,445 jobs, 1.9 percent).
The annual decrease in seasonally adjusted filled jobs was partly offset by increases in the following industries:
- Health care and social assistance (up 6,130 jobs, 3.2 percent)
- Education and training (up 4,778 jobs, 2.9 percent).
The Household Labour Force Survey for March 2012 confirmed that there has been an increase in part-time employment, while full-time employment fell. Total part-time employment increased by 13,000 (2.5 percent) over the quarter, to reach a new peak. The unemployment rate also increased 0.3 percentage points to 6.7 percent in the March 2012 quarter, with the number of people unemployed increasing by 9,000. Working-age population is 3,477,000 with 2,390,000 in labour force: 2,230,000 are employed and 160,000 unemployed.