New Zealand Labour Market Report 2025
New Zealand's labour market has weakened in the first half of 2025, and the country's economic recovery appears to have stalled.
In June quarter, New Zealand's unemployment rate edged up from 5.1% to 5.2%. Employment weakened with the number of people employed down 0.1% over the June quarter and 0.9% over the year. Auckland's unemployment is particularly concerning at 6.1%, with 15,000 more unemployed people over the year.
The Reserve Bank of New Zealand cut the Official Cash Rate by 25 basis points to 3.00%, with significant spare capacity persisting in the economy. Job ad volumes remain at historically low levels but have finally stabilized, no longer declining over the past ten months according to SEEK data.
Our exclusive analysis reveals which three sectors are still hiring aggressively despite the downturn - and why Auckland's spike caught economists off-guard.
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