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Henry Russell: ANZ Economist on the rise in unemployment and the labour shortage
Economic pain is being felt in the latest employment numbers.
The unemployment rate is 4.3%, an increase of 0.3 percentage points from the December quarter.
ANZ economist Henry Russell told Mike Hosking that we've come out of a period of intense labour shortages, with migration doing the heavy lifting.
He says skill shortages remain and that's why we continue to import people into New Zealand.
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