Great employment news

Stats NZ reports:

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today.

Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed in a single quarter since the series began in 1986.

This is good news for New Zealanders, and for the Government. It shows the benefits of a flexible economy that can respond to economic shocks in certain sectors.

The Australian unemployment rate is 6.6% so 4.9% is a very good result.