Nicola Willis: Economic Growth Minister on the unemployment rate reaching 5.3%
The Economic Growth Minister's confident the economy will turn a corner soon.
Unemployment's reached 5.3% in the September quarter – the highest it's been since 2016.
160 thousand Kiwis have been out of work and looking for a job, the most since 1994.
Nicola Willis told Mike Hosking unemployment may rise further this quarter, but there are positives, like the increase in hours worked and a move from part time to full time work.
She says these unemployment figures do bounce around a bit, so she certainly won't say unemployment is at its peak.
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