Last year's recession is still being felt in the job market. 

Stats NZ data —due out this morning— is expected to show unemployment reached a nine-year high of 5.3% in the June quarter. 

The economy's been back in growth since the latter part of last year. 

But ASB Senior Economist Mark Smith told Mike Hosking the economy has lost about 40,000 jobs since the late 2023 peak. 

More full-time roles have been lost than part time, he explained, and the labour market is getting that much weaker.  

LISTEN ABOVE 

Last year's recession is still being felt in the job market.&nbsp;
Stats NZ data —due out this morning— is expected to show unemployment reached a nine-year high of 5.3% in the June quarter.&nbsp;
The economy's been back in growth since the latter part of last year.&nbsp;
But ASB Senior Economist Mark Smith told Mike Hosking the economy has lost about 40,000 jobs since the late 2023 peak.&nbsp;
More full-time roles have been lost than part time, he explained, and the labour market is getting that much weaker. &nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Mark Smith: ASB Senior Economist on the employment rate being expected to hit 5.3%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/257e0091-ac9c-469b-91dd-b330015a96d9/transcript