Prime Minister desk has released an economic update, below is the excerpt.
Some great news out today – New Zealand’s unemployment rate has fallen to 4.9 per cent – that’s the lowest rate in nearly eight years.
Around 35,000 more jobs have been created in the past three months and 144,000 more people are in work over the past year.That means New Zealand now has the second highest employment rate in the developed world.
National’s plan for sustained, strong economic growth is delivering results. Some other great results announced over recent weeks include: Average weekly wages are up nearly 2 per cent in the past year, compared with inflation of just 0.2 per cent.
Around 30,000 new homes were consented across New Zealand over the past year, with nearly 10,000 of those in Auckland.
New Zealand has been ranked as the top country in the world for doing business.New Zealand has the fourth highest economic growth rate in the developed world with growth of 3.6 per cent in the year to June 2016.
The number of New Zealanders accessing their KiwiSaver to help buy their first home has more than doubled over the past year to around 31,000.We posted a budget surplus of $1.8 billion for the 2015/16 year – giving us choices in the future.