New unemployment stats don't show the full picture
New unemployment stats don't show the full picture
5 November 2020
Stats NZ show unemployment has risen to 5.3 per cent, slightly better than expected.
The number of unemployed people rose by 37-thousand to hit 151-thousand in the September quarter - after warnings it could rise by almost double that.
Infometrics senior economist Brad Olsen says it's reassuring, but there are other factors to consider.
He says there are people who are working fewer hours, and also those who don't have a job, but who aren't actively looking for work.
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