Michael Gordon: Westpac Senior Economist on the unemployment rate holding steady at 5.1%
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
The unemployment rate has come out better than anticipated.
It remained unchanged at 5.1% in the three months ending March.
The number of people in full-time work fell by 45 thousand, while the number in part time work grew by 25 thousand.
Westpac Senior Economist Michael Gordon told Ryan Bridge that people are likely using reduced hours as an alternative to layoffs.
He says it’s likely one factor as to why the unemployment rate has risen, but not as high as some economists were forecasting.
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