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Economists picking unemployment rate to tick over 5 percent

Author
Newstalk ZB,
Publish Date
Wed, 5 Feb 2025, 6:16am
Photo / Getty Images
Photo / Getty Images

Economists picking unemployment rate to tick over 5 percent

Author
Newstalk ZB,
Publish Date
Wed, 5 Feb 2025, 6:16am

An economist says some groups of people will be hit harder by rising unemployment.

The country's labour market data for the final quarter of 2024 will be released this morning. 

Most experts predict the unemployment rate will rise from 4.6-percent to about 5-percent. 

ASB senior economist Mark Smith told Andrew Dickens the Wellington region's likely to be heavily impacted

He says it picks up in the younger age group, because what typically happens is the last ones into the labour market are the first ones out.

Smith says some ethnic groups will also be effected, like Maori and Pacific Islanders.

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