Hamilton City Quarterly economic monitor - June 2019

Unemployment rate

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Highlights for Hamilton City

  • The annual average unemployment rate in Hamilton City was 4.3% in June 2019, down from 5.3% a year earlier.
  • The unemployment rate in Hamilton City was higher than in New Zealand, where the unemployment rate averaged 4.1% over the year to June 2019.
  • Over the last ten years the unemployment rate reached a peak of 8.5% in June 2012;

National overview

The unemployment rate dropped again in June, taking the annual average rate to 4.1% – the lowest since the GFC. The labour market remains tight, with competition for workers expected to remain strong over the next year. Employment growth was faster than expected in the June quarter as part-time employment recovered some of its losses from the previous six months. Labour cost inflation reached 2.1%pa, the fastest growth rate since December 2011 as a tighter labour market gives employees more bargaining power and the effects of the April 1 minimum wage increase showed through in lower-skilled wage growth.