Job numbers were up in May, according to Statistics NZ, but one economist is urging the numbers be treated with caution. “May saw a turnaround in monthly total filled jobs. The full lockdown throughout April brought reports of businesses hibernating to try to weather the storm with assistance from the wage subsidy,” economic statistics manager Sue Chapman said. “And, of course, all this was occurring in the heart of the multi-billion-dollar wage subsidy scheme. “This would lift the New Zealand unemployment rate to 6.3 per cent in Q2, from 4.2 per cent in Q1, on the (bold?)

Source: Stuff June 29, 2020 16:52 UTC