Overall employment's held steady - but the hours people work have notably contracted.

In figures out today, the unemployment rate remained unchanged at 5.1 percent in the three months ending March. 

But total hours worked are down three percent over the year. 

Kiwibank chief economist Jarrod Kerr says numbers of part time workers are rising, with those working full-time falling. 

"Businesses are clearly cutting hours to reduce costs and fight their way through what's quite an awkward period, and that's weighing on households."

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Overall employment's held steady - but the hours people work have notably contracted.
In figures out today, the unemployment rate remained unchanged at 5.1 percent in the three months ending March.&nbsp;
But total hours worked are down three percent over the year.&nbsp;
Kiwibank chief economist Jarrod Kerr says numbers of part time workers are rising, with those working full-time falling.&nbsp;
"Businesses are clearly cutting hours to reduce costs and fight their way through what's quite an awkward period, and that's weighing on households."
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.

Best of Business

Jarrod Kerr: Kiwibank chief economist on employment numbers holding steady in latest report

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e70f5a9f-6dcc-48f6-8c04-b2d600645049/transcript