Reference
NZ Unemployment Rate and Labour Market 2026
Last updated: (latest data: March 2026 quarter)
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5.3%
Unemployment (Mar 2026)
70.4%
Participation Rate
12.9%
Underutilisation
New Zealand labour market statistics from the Stats NZ Household Labour Force Survey (HLFS), released quarterly. The unemployment rate is the share of the labour force that is without a job and actively looking. It is one of the most-watched economic indicators and feeds into Reserve Bank interest rate decisions.
PAYE Calculator Emergency Fund Calculator Benefit Entitlement EstimatorLabour Market at a Glance (March 2026 quarter)
| Measure | March 2026 | December 2025 |
|---|---|---|
| Unemployment rate | 5.3% | 5.4% |
| People unemployed | 163,000 | 165,000 |
| Employment rate | 66.7% | ~66.6% |
| Labour force participation rate | 70.4% | ~70.5% |
| Underutilisation rate | 12.9% | 12.9% |
What the Measures Mean
| Measure | Definition |
|---|---|
| Unemployment rate | Unemployed people as a share of the labour force (those working or actively seeking work) |
| Employment rate | Employed people as a share of the working-age population (15+) |
| Participation rate | Share of the working-age population in the labour force |
| Underutilisation rate | A broader measure including the unemployed, underemployed part-timers, and available potential jobseekers |
Unemployment rose through 2024 and 2025 as the economy slowed, peaking before easing slightly in early 2026. The underutilisation rate captures slack the headline rate misses, such as people wanting more hours, which is why it sits well above the unemployment rate.
Source: Stats NZ - Unemployment rate. Released about five weeks after each quarter ends.
Cite this page
NZ Unemployment Rate and Labour Market 2026. Calculate.co.nz. https://www.calculate.co.nz/reference/nz-unemployment-rate.php (retrieved 16 October 2026).
Figures are compiled from the official sources listed above and reviewed twice monthly.