Marlborough Region Quarterly economic monitor - June 2020

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Unemployment rate

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Highlights for Marlborough Region

  • The annual average unemployment rate in Marlborough Region was 2.6% in June 2020, down from 3.1% a year earlier.
  • The unemployment rate in Marlborough Region was lower than in New Zealand, where the unemployment rate averaged 4.1% over the year to June 2020.
  • Over the last ten years the unemployment rate reached a peak of 4.6% in December 2012;

National overview

The June 2020 Household Labour Force Survey showed an incredulous drop in the unemployment rate to 4.0%, although this outcome is driven by definitions rather than a surprisingly rosier labour market. With many unable to be “actively” looking for work due to the Alert Level restrictions, those who lost jobs were counted in the 3.1% rise in the “Not in Labour Force” category as they didn’t fit the definition of unemployed. The underutilisation rate, a broader measure of spare capacity in the labour market, also rose from 10.4% to 12.0%. The weekly unemployment rate increased to 6.2% at the end of the quarter.