Jarrod Kerr: Kiwibank chief economist on employment numbers holding steady in latest report
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Overall employment's held steady - but the hours people work have notably contracted.
In figures out today, the unemployment rate remained unchanged at 5.1 percent in the three months ending March.
But total hours worked are down three percent over the year.
Kiwibank chief economist Jarrod Kerr says numbers of part time workers are rising, with those working full-time falling.
"Businesses are clearly cutting hours to reduce costs and fight their way through what's quite an awkward period, and that's weighing on households."
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