17 May 2013

Rise in unemployment foreseen

11:27 am on 17 May 2013

Unemployment is at risk of rising again, according to the latest job advertisements data from ANZ.

The bank's monthly survey shows the number of job adverts rose 0.8% in April, the third consecutive monthly rise.

But ANZ senior economist Sharon Zollner said the rise is tentative at best.

The unemployment rate fell to a three year low of 6.2% in the first three months of the year, but Ms Zollner said it could rise again if the job ads data is anything to go by.

Ms Zollner said the composite index, which gives more weighting to newspaper advertisements, rose 3.5% from last month, pointing to a possible return to unemployment rates around 7%.

Canterbury had the strongest job market, while Wellington had the weakest.