Employment and job openings · New Zealand
New Zealand Employment Change QoQ
The New Zealand Employment Change QoQ measures the change in the number of people employed in New Zealand, or the demand for workers (job openings, advertisements, layoffs announced).
- Importance
- High
- Released
- Quarterly
- Currency
- NZD · New Zealand dollar
- Central bank
- The Reserve Bank of New Zealand
Latest figures
The latest release, for Q3, was published on 3 November 2026 and came in at -0.1%. That is below the consensus of 0.4%. It is down from 0.3% the time before (revised).
A weaker figure than expected points to slowing activity: the New Zealand dollar tends to soften and markets price in lower rates.
Over the last 8 releases it ranged from -0.1% to 0.5%, averaging 0.1%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 3 Nov 2026 | Q3 | -0.1% | 0.4% | 0.3% ® |
| 4 Aug 2026 | Q2 | 0.5% | 0.2% | 0.2% |
| 5 May 2026 | Q1 | 0.2% | 0.3% | 0.5% |
| 3 Feb 2026 | Q4 | 0.5% | 0.3% | 0% |
| 4 Nov 2025 | Q3 | 0% | 0.1% | -0.2% ® |
| 5 Aug 2025 | Q2 | -0.1% | -0.1% | 0.1% |
| 6 May 2025 | Q1 | 0.1% | 0.1% | -0.1% |
| 4 Feb 2025 | Q4 | -0.1% | -0.2% | -0.5% |
Why it matters
Jobs drive income and spending, and a tight labour market pushes wages and inflation up. the Reserve Bank of New Zealand watches employment closely, so strong figures support the New Zealand dollar and weak ones raise the odds of rate cuts. Full-time jobs carry more weight than part-time.
How it is calculated
Most countries count employment from a household labour force survey; job openings come from employer surveys or job-board data; announced job cuts are tallied from company statements.
What changes mean
- Compare with the consensus and with population growth.
- Openings falling while employment holds up is the "soft landing" pattern central banks hope for.
- Quits rising means workers are confident they can find better-paid jobs: wage pressure ahead.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the New Zealand dollar and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the New Zealand dollar tends to soften and markets price in lower rates.
A short history
Labour force surveys spread after the Second World War, following the US Current Population Survey (1940s); the US job openings survey (JOLTS) began in 2000.
New Zealand was the first country to adopt formal inflation targeting, in 1990.
Questions
What is the New Zealand Employment Change QoQ?
The New Zealand Employment Change QoQ measures the change in the number of people employed in New Zealand, or the demand for workers (job openings, advertisements, layoffs announced).
What was the latest New Zealand Employment Change QoQ?
-0.1% for Q3, published on 3 November 2026 (consensus 0.4%, previous 0.3%).
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.