This article has been translated from English to Gen Z Slang.
Yo, New Zealand's job vibes not hittin' right now. The unemployment rate hit 5.2% in June 2025, up from 5.1% last quarter. The job scene's like, kinda chillin' at the moment with the economy getting all kinds of spicy vibes. 🌪️
Stats NZ just dropped the tea: hiring fell by 0.1% this quarter, exactly what folks thought it would do. Last quarter's numbers got a downgrade, showing no change when they were vibin' at 0.1% growth. 😬
Juicy Deets from June 2025's Report
- Unemployment's up, but not by much: Adjusted for the season and all that jazz, the rate went to 5.2% from 5.1%, with 158,000 peeps on the grind for jobs.
- Employment rate took an L: It slid to 66.8% from 67.1%, with the total working gang at 2.88 mill, down from 2.91 mill last year.
- Job losses mostly in certain zones: Auckland's job scene lost the most, with 23,100 gigs gone, followed by Waikato (-11,100) and Taranaki (-5,200).
- Wage growth chillin’: Salary and wage hikes at 2.4% yearly, but rates per hour lit up 4.5% to $43.39. 💸
- Underutilization got bigger: Hit 12.8%, affecting 403k peeps, and yo, women make up a lot of that at 222k.
- Youth job probs still a thing: NEET rate for 15-24 year-olds hanging steady at 12.9%. 🎓
Unemployment went up a bit with the job rate dipping to 66.8%, from 67.1% in March. Basically, fewer working-age Kiwis are landing jobs, as the economy serves some realness. 📉
Underutilization rate—that's like, job market slack—hit 12.8% from 12.4% last quarter. The year's showing 0.9% fewer jobs with 26k peeps out of work compared to June 2024, meaning it's rough out there for job seekers nationwide. 🕵️♀️
Link to official New Zealand Labour Market Statistics (June 2025 Quarter)
But yo, the wage situation's mildly lit! The Labour Cost Index is keeping it above the Reserve Bank’s inflation goal with salary and wages up 2.4% annually. 💪
Market Vibes
NZ Dollar vs. The Big Players: 5-min 🔄
Overlay of NZD vs. Major Currencies Chart by TradingView
The Kiwi dollar was low-key flexing on the scene, with most major currencies showing some SMH-worthy gains. 🚀
NZD/USD pair clocked in around 0.43% a couple of hours post-drop, meaning markets expected something weaker, but likely vibed with the labor cost index rise, from 0.4% to 0.6% quarter-on-quarter. 💥
The kiwi flexed across the board, gaining 0.41% on the euro, 0.40% versus the pound, and 0.36% against the Swissie. 🌍
