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Unemployment

Low unemployment

New Zealand’s unemployment rate of 3.9 percent in 2004 was below the OECD average of 6.9 percent. New Zealand’s rate was the second-lowest among 27 OECD nations, where rates ranged from 3.7 percent in Korea to 18.8 percent in Poland.

Unemployment Rate

(percentage of total labour force unemployed), 2004

  Percent
 OECD 6.9
 New Zealand 3.9

Youth unemployment

Youth unemployment in New Zealand is slightly below the OECD average. In 2004, 9.3 percent of New Zealand’s 15 to 24 year olds in the labour force were unemployed, compared with an OECD average of 13.4 percent.

New Zealand’s youth unemployment rate was the seventh-lowest among OECD nations, where rates ranged from 6.4 percent in Mexico to 40.8 percent in Poland.

 

Youth Unemployment rate

(percentage of 15–24 year olds in the labour force but unemployed), 2004

  Percent
 OECD 13.4
 New Zealand 9.3

Long-term unemployment

Of New Zealand’s unemployed population in 2004, 23.9 percent had been unemployed for six months or longer, and 11.7 percent for a year or longer. These figures were lower than the OECD averages of 47.1 percent being unemployed for six months or more, and 32.0 percent for a year or more.

New Zealand’s proportion of long-term unemployed over one year was sixth-lowest among those OECD nations for which data was available.

 

Incidence of Long-term Unemployment

(percentage of total unemployment), 2004

 

6 months and over

12 months and over
 OECD 47.1 32.0
 New Zealand 23.9 11.7
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