The expected economic downturn has yet to make a dent in the labour market, with unemployment holding steady at 3.4 percent.

Other factors are at record highs, including the labour participation rate and the employment rate increased by 72 percent and 69.5 percent.

Infometrics Principal Economist Brad Olsen says this indicates the incoming recession may be different, as several businesses are still struggling to fill gaps in their workforces. 

"There's been an increase in full-timers, there's been an increase in part-timers, the unemployment rate's the same. All of that is encouraging, but also says this far into the economic cycle, after you've seen all those interest rates ratcheted up, the labour market isn't showing any signs of slowing."

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The expected economic downturn has yet to make a dent in the labour market, with unemployment holding steady at 3.4 percent.
Other factors are at record highs, including the labour participation rate and the employment rate increased by 72 percent and 69.5 percent.
Infometrics Principal Economist Brad Olsen says this indicates the incoming recession may be different, as several businesses are still struggling to fill gaps in their workforces. 
"There's been an increase in full-timers, there's been an increase in part-timers, the unemployment rate's the same. All of that is encouraging, but also says this far into the economic cycle, after you've seen all those interest rates ratcheted up, the labour market isn't showing any signs of slowing."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.