Updated labour market statistics due from Stats NZ on Wednesday are tipped to show a jump in unemployment. The Household Labour Force Survey data will cover the June quarter, which includes New Zealand’s period of level 4 lockdown. In the first quarter of this year, the unemployment rate was 4.2 per cent. ANZ expected the unemployment rate to increase to 5.7 per cent but said that would understate the true weakness in the market. Taken on its own, this would imply an unemployment rate of around 5.5 per cent.

Source: Stuff August 03, 2020 02:47 UTC