11:30 AM
More good economic news today, Statistics New Zealand has released figures showing the unemployment rate continues to fall.
The seasonally adjusted unemployment rate for the December quarter has come in at 5.6 per cent.
That is the lowest rate since June 1988, when it was 5.2 per cent.
Statistics New Zealand says employment increased during the three months by 20,000 to 1.805 million, or up 1.1 per cent on the previous quarter.
"Since September 1998 there has been an overall increase in the number employed with the last two quarters showing solid employment growth of 43,000," it says.
Social Services Minister Steve Maharey is welcoming the improvement, but says the Government cannot get too excited as the figures are part of an overall trend.
He says while it appears that unemployment will continue to fall, a number of key factors such as the US dollar and petrol prices could reverse the trend.
Mr Maharey says any predictions need to to consider such influences, over which the government has no control.
The unemployment rate stood at 6.3 per cent in the same quarter a year ago.
The jobless rate peaked at 10.2 per cent in September 1991.
- IRN
www.myjob.co.nz
Unemployment rate lowest in 12 years
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