Watch: Rising unemployment hits young hardest

Wednesday, 7 August 2024

Latest reports shows unemployment rising while spending is down.

The unemployment rate has risen to 4.6%, up from 4.4% in the previous quarter, and compared to 3.6% this time last year.

The data also showed workers were being offered fewer hours by their employers than they would have wanted. That number increased by 326,000.

The latest unemployment rate was the highest since March 2021, during the Covid-19 pandemic, according to Stats NZ.

Watch Stuff reporter Zane Small as he explains how young Kiwis are finding it increasingly hard to get work, in the ThreeNews video above.