Unemployment rate New Zealand 2018-2020
Employment opportunities
After experiencing an economic downtown following the 2008 global financial crisis, the labor market in New Zealand has been slow to recover to pre-recession levels. This can be observed in the unemployment rate of the country, as well as in other economic indicators. That’s not to say the labor market isn’t improving - by 2020, employment in the country was estimated to continue increasing to 2.72 million people. However this estimate was made before the coronavirus crisis in early 2020. The country’s labor force participation rate, a measure of an economy’s active labor force, has also continued to increase.
The job market
New Zealand’s employment landscape is dominated by the services sector; over 70 percent of the workforce are employed in this economic sector. Although the agriculture and goods-producing sectors have been historically strong, the shift towards the services sector is becoming more evident across the nation.