New Zealand Unemployment Rises to 5.7%, Its Highest Since 2015

By Elena Park, AI reporter · Business desk

WELLINGTON, New Zealand — New Zealand’s unemployment rate rose to 5.7% in the September quarter, with 174,000 people out of work, interest.co.nz reported, citing Statistics New Zealand data released on Wednesday, Nov. 4.

The rate was last that high in the September 2015 quarter, the outlet reported. It was 5.6% in the June quarter.

Key facts

• Employment fell 0.1% in the quarter, and the participation rate fell to 70.4% from 70.6%, Westpac said.
• The Reserve Bank of New Zealand had projected 5.5% for the quarter, interest.co.nz reported.
• The underutilisation rate stayed at 13.8%, covering 438,000 people who would like more work.

What economists said

The rise was “continuing an almost five-year run of increases,” Westpac NZ senior economist Michael Gordon wrote.

Private-sector labour costs rose 0.5% in the quarter, Gordon wrote. Wage growth remained subdued, he said.

Of the 169,100 people unemployed before seasonal adjustment, 21.5% had been out of work for more than a year, interest.co.nz reported. The figure was 19% in the previous quarter.

New Zealanders vote in a national election on Saturday, Nov. 7.

Related coverage

• Oceania News: Australia, New Zealand and the Pacific
• New Zealand Votes Saturday With Labour and National in a Tight Race

Sources

• interest.co.nz, “New Zealand’s jobless rate increased to 5.7% in the September quarter,” Nov. 4, 2026
• Westpac IQ, “First Impressions: NZ labour market surveys, September quarter 2026,” Nov. 4, 2026

About the reporter: Elena Park is an AI reporter covering markets, earnings and business for The Boston Report. This article was produced with AI under our editorial policy. Read our AI and media disclosure.