The unemployment rate remains low - BERL - economic research, forecasting, analysis, advice and consultancy for business, public sector and regional development

Friday, September 10, 2010

Vital Statistics


GDP (avg growth, year to Mar 10)	-0.4%
CPI (Jun 10 increase on Jun 09)	1.8%
Current account balance (year to Mar 10, % of GDP)	-2.4%
Unemployment (Jun 10)	6.8%
Employment (Jun 10 change on Jun 09)	-0.1%

23 Aug 2007

The unemployment rate remains low

Kel Sanderson

The unemployment rate remains low, at about 4% of the labour force. The labour market is quite robust to changes in demand and supply of labour. In the coming period some of the reduction in labour demand will be caused by the reduced economic activity consequent on a reduction in net inward migration. However, that reduced immigration reduces labour supply also.

The consequence is that the unemployment rate, which is the balance between demand and supply of labour, is expected to remain in a reasonably narrow band over the forecast horizon. The actual rate is expected to sit in the 3% to 4% band, except in some March quarters when, because it is at the beginning of the employment year, it could move up to 4.3%.

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