New Zealand faces 11-year high unemployment rate

New Zealand is facing economic challenges as the unemployment rate rises to 5.6 percent, the highest level in nearly 11 years. Approximately 171,000 people are currently unemployed, with Māori unemployment reported at 10.8 percent. The Green Party has criticized the coalition government, including the National, ACT, and New Zealand First parties, stating that their policies have contributed to the highest unemployment in a decade and a rising cost-of-living crisis.

Green Party Co-leaders Chlöe Swarbrick and Marama Davidson argued that the current administration has failed to address economic pressures, instead focusing on divisive issues and providing financial support to landlords. Following Prime Minister Christopher Luxon’s announcement that he will remain as leader, the Greens maintained that only a change in government can resolve the economic strain on New Zealanders.

In Australia, the labor market shows a different trend. SEEK data indicates that while job advertisements fell in July, the number of applications per job ad reached a record high. Growth is being driven by specific sectors, including construction and trades, particularly for roles involving the planning and maintenance of data centers.