- Hon Nicola Willis
The growing number of people in work is good news for New Zealand, Finance Minister Nicola Willis says.
"Stats NZ data released today shows an additional 15,000 people got jobs in the final three months of last year.
"In addition, the hours worked and the number of people actively seeking work also increased. Together with other recent surveys showing rising business and consumer confidence, these are signs of a growing economy in which people see increased opportunity.
"The unemployment rate increased 0.1 per cent in the quarter to 5.4 per cent, fractionally below the 5.5 per cent rate forecast by the Treasury in its December Half Year Economic and Fiscal Update.
"Obviously, we would prefer the rate to be lower still but the underlying details are positive and economists are expecting the unemployment rate to fall this year as the economy recovers."
Nicola Willis says it is also pleasing to see that the number of young people not in education, training or employment declined from 13.7 to 13.2 per cent in the quarter.
"Many Kiwis are still doing it tough and there is heaps to do. But all the signs are that the steps the Government has taken to fix the basics and build the future are making it easier for businesses to invest, innovate, grow and employ more people."
