Unemployment's set to edge higher despite signs of the job market improving. 

Stats NZ data, due out this morning, is expected to show the unemployment rate reached 5.3% in the September quarter. 

That's up from 5.2% in the June quarter. 

Westpac Senior Economist Michael Gordon told Mike Hosking the unemployment rate would be even higher if more young people were in the labour market. 

He says they've been first on the chopping block as the economy slowed, so many have gone back into school and aren't seeking work. 

LISTEN ABOVE 

Unemployment's set to edge higher despite signs of the job market improving.&nbsp;
Stats NZ data, due out this morning, is expected to show the unemployment rate reached 5.3% in the September quarter.&nbsp;
That's up from 5.2% in the June quarter.&nbsp;
Westpac Senior Economist Michael Gordon told Mike Hosking the unemployment rate would be even higher if more young people were in the labour market.&nbsp;
He says they've been first on the chopping block as the economy slowed, so many have gone back into school and aren't seeking work.&nbsp;
LISTEN ABOVE&nbsp;

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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, 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

Michael Gordon: Westpac Senior Economist on the unemployment rate being expected to hit 5.3%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a0a4bcf7-ef12-4f04-8ada-b38b013c29dd/transcript

Here's a small myth-busting exercise for you – things aren't as bad as you might think. 

Business sales from small and medium businesses are up and by quite a lot. They're up 21% in fact. 

Why would you buy a business at a time like this? 

You know why. Because life goes on and people have dreams and those dreams don’t get buffeted about by fiscal uncertainty. 

There were 27,000 confidentiality agreements signed in the past year. That's a lot of agreements. 

For an average of $800,000 you can buy your dream. Values are up, listings are up, demand is up (it's up more than listings), so prices are holding and the returns, multiple, is up. 

So a lot of people are doing fine, thank you very much. 

This is a nation of small businesses and all these numbers show is nothing changes that. Not a war, not petrol, not an election, and not the weather. 

If you ran a poll and asked, "is it a good time to buy a business", like they ask, "is it a good time to buy a major household item", you know what the answer would be. 

And yet life goes on. 

Now, for all the New Zealand First supporters about to text me and say it's all Indians, save your 20 cents. 

It isn't. 

It's another myth busted. 9.7% are Indians, 15% are Asian (so that will be Chinese and Koreans, maybe Filipinos), which leaves 67% identifying as European. 

So the idea this is all about migrants buying jobs is not the tsunami you thought it might be. 

I think these stats are a microcosm, or a small example of the disconnect between studies, surveys, polls, politics, news headlines, and what is really going on. 

The rhythm of New Zealand life gets buffeted about by issues of the day; the petrol price, the war, the spend. And why wouldn’t it? 

But if you believed the polls and the stats and the national conversation, as driven by the headlines, you'd think we were at home huddled in a corner waiting for the end. 

Yet we are not. We are buying businesses, planning the future, taking the risks and, God forbid, having a good time. 

What a shock. 

Here's a small myth-busting exercise for you – things aren't as bad as you might think.&nbsp;
Business sales from small and medium businesses are up and by quite a lot. They're up 21% in fact.&nbsp;
Why would you buy a business at a time like this?&nbsp;
You know why. Because life goes on and people have dreams and those dreams don’t get buffeted about by fiscal uncertainty.&nbsp;
There were 27,000 confidentiality agreements signed in the past year. That's a lot of agreements.&nbsp;
For an average of $800,000 you can buy your dream. Values are up, listings are up, demand is up (it's up more than listings), so prices are holding and the returns, multiple, is up.&nbsp;
So a lot of people are doing fine, thank you very much.&nbsp;
This is a nation of small businesses and all these numbers show is nothing changes that. Not a war, not petrol, not an election, and not the weather.&nbsp;
If you ran a poll and asked, "is it a good time to buy a business", like they ask, "is it a good time to buy a major household item", you know what the answer would be.&nbsp;
And yet life goes on.&nbsp;
Now, for all the New Zealand First supporters about to text me and say it's all Indians, save your 20 cents.&nbsp;
It isn't.&nbsp;
It's another myth busted. 9.7% are Indians, 15% are Asian (so that will be Chinese and Koreans, maybe Filipinos), which leaves 67% identifying as European.&nbsp;
So the idea this is all about migrants buying jobs is not the tsunami you thought it might be.&nbsp;
I think these stats are a microcosm, or a small example of the disconnect between studies, surveys, polls, politics, news headlines, and what is really going on.&nbsp;
The rhythm of New Zealand life gets buffeted about by issues of the day; the petrol price, the war, the spend. And why wouldn’t it?&nbsp;
But if you believed the polls and the stats and the national conversation, as driven by the headlines, you'd think we were at home huddled in a corner waiting for the end.&nbsp;
Yet we are not. We are buying businesses, planning the future, taking the risks and, God forbid, having a good time.&nbsp;
What a shock.&nbsp;

Mike's Minute: It's not as bad in business as you think

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/385b6c4d-1b9b-4586-b334-b43901666a0b/transcript

Returning after a long and packed weekend, Andrew Saville and Jason Pine joined Mike Hosking to wrap the weekend’s sporting news. 

On today’s agenda: 

The success of the first Super Round at Christchurch’s One NZ Stadium and the Super Rugby Pacific results.  

The looming fight between Tyson Fury and Anthony Joshua. 

Plus, Sebastian Sawe has become the first man to run a marathon in under two hours and they touched on the NFL draft.  

LISTEN ABOVE 

Returning after a long and packed weekend, Andrew Saville and Jason Pine joined Mike Hosking to wrap the weekend’s sporting news.&nbsp;
On today’s agenda:&nbsp;
The success of the first Super Round at Christchurch’s One NZ Stadium and the Super Rugby Pacific results. &nbsp;
The looming fight between Tyson Fury and Anthony Joshua.&nbsp;
Plus, Sebastian Sawe has become the first man to run a marathon in under two hours and they touched on the NFL draft. &nbsp;
LISTEN ABOVE&nbsp;

Commentary Box: Andrew Saville and Jason Pine discuss Super Round, Fury v Joshua, NFL

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3f7425cb-2ac7-4adf-9b9d-b4390163aa75/transcript

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 28th of April, Trade Minister Todd McClay called in from India to discuss the signing of the FTA, and King Charles has touched down in the US in the wake of an attempted assassination over the weekend.  

The PM was in after a short week to talk the India trade deal, our fuel supplies, ACT’s displeasure with the major events fund, and the stoush with TVNZ.  

And Andrew Saville and Jason Pine discussed a successful sporting weekend at One NZ Stadium, the Warriors, and the Government’s decision not to fund the SailGP next year. 

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 

LISTEN ABOVE 

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 28th of April, Trade Minister Todd McClay called in from India to discuss the signing of the FTA, and King Charles has touched down in the US in the wake of an attempted assassination over the weekend. &nbsp;
The PM was in after a short week to talk the India trade deal, our fuel supplies, ACT’s displeasure with the major events fund, and the stoush with TVNZ. &nbsp;
And Andrew Saville and Jason Pine discussed a successful sporting weekend at One NZ Stadium, the Warriors, and the Government’s decision not to fund the SailGP next year.&nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.&nbsp;
LISTEN ABOVE&nbsp;

Full Show Podcast: 28 April 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7f4feabd-aa27-47b0-a55f-b439015c6d64/transcript

Michael Gordon: Westpac Senior Economist on the unemployment rate being expected to hit 5.3%

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