NZ Unemployment Hits 4 Percent as People Stay on Benefits for an Average of 13 Years, Modelli

Published on February 8, 2024

Unemployed people in New Zealand who are given a government benefit usually remain on it for an average of 13 years, startling new modelling has revealed. It comes as the level of unemployment reaches four percent. The number (seasonally adjusted) of unemployed people rose to 122,000, up 3,000 from the previous quarter. Underutilisation, a broad measure of spare capacity in the labour market, also increased to 10.7 percent in the December quarter. Called “Jobseeker,” the benefit is touted as primarily a short-term support for people between jobs. But new government modelling suggests recipients of the main Jobseeker payment are now expected to spend an average of 13 years on state support—a jump 23 percent since 2019. Actuarial firm Taylor Fry prepared the estimates for the Ministry of Social Development (MSD)....

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