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NZ unemployment now worse than Australia

New Zealand’s unemployment rate is now worse than Australia’s – an economy described as ‘fast becoming a basket case’, Labour Finance spokesperson Grant Robertson says.

“Last night Australia’s new figures put unemployment at 5.9 per cent. New Zealand’s is 6 per cent.

“Australia’s economy has been going through extremely difficult times of late. It has been a rapid downturn for a once-thriving economy.

“New Zealand has experienced a sustained period of economic growth that is now falling away. We should be doing much better than Australia. There is no way our unemployment rate should be higher than the across the Tasman.

“John Key and Bill English always blame overseas economic factors and turbulent times. But the GFC is over and other countries are doing much better. Britain, Australia and the US all have unemployment levels below 6 per cent and falling. New Zealand’s is forecast to top 7 per cent.

“The stark truth is National hasn’t been able to turn growth into jobs. Now the economy is going downhill opportunities will be even harder to come by, even for those with jobs.

“This isn’t the Kiwi dream. It’s getting harder and harder to get into work or find a better job. Behind these figures are real people with families to support and ambitions to fulfil.

“National is failing them,” Grant Robertson said.