7 May 2014

Jobless rate remains at 6%

1:01 pm on 7 May 2014

Unemployment has remained steady as more people are working and more are searching for a job.

Official figures show the number out of work stood at 6 percent - or 147,000 people - in the three months to March.

Wage growth has remained modest.

Wage growth has remained modest. Photo: PHOTO NZ

Firms are continuing to hire more people, with annual employment growing at its fastest pace since 2004. Auckland and Christchurch continue to dominate, led by the construction sector.

But unemployment didn't budge, remaining at 6 percent.

Statistics New Zealand said that was because more people were in work or searching for work, hitting a record high of 69.3 percent of the working age population.

The expanding economy isn't translating into hefty pay rises, with annual wage growth remaining subdued at 1.6 percent.

Analysts expect that will change over the rest of the year as economic activity strengthens further.