- Hon Nicola Willis
Today's labour market statistics confirm what many New Zealanders already know from experience: the second quarter of this year was a tough one, Finance Minister Nicola Willis says.
"April, May and June were difficult months for many employers. They faced real uncertainty and rising costs, and a lot of them made the hard call to hold off on hiring or expanding. Today's data, showing unemployment at 5.6 per cent, reflects that.
"For the New Zealanders who've been out there looking for work in that environment, we know it's been hard going.
"This is exactly why our focus is on the policies that boost our economy and build business confidence, because confident businesses are the ones who hire people and grow their operations - and it's encouraging to see recent jumps in business confidence and hiring intentions.
"But to keep our economy growing and creating new jobs, there's much more to do.
"That's why we're backing the tourism and international education sectors to keep growing.
"It's why we're fast-tracking major construction projects so the diggers get moving sooner.
"It's why we're investing in the infrastructure New Zealand needs to build for the future.
"And it's why we introduced Investment Boost, so businesses have a real incentive to invest in the equipment that leads to productivity gains, helping to create lasting jobs.
"None of this is about quick fixes. It's about giving employers the confidence to say yes to that next hire, that next expansion, that next investment. That's how you turn a tough quarter into a recovering economy."
