Unemployment, employment – the jigsaw puzzle of the labour market
I found this graph recently on the Reserve Bank’s website.
It shows part of the complexity of the labour market. I hadn’t realised how the number of people employed has been climbing so steadily, or just how much the unemployment rate fluctuates.
There’s another sad aspect to the figures – the proportion of people who have been unemployed long term. However, this graph from the Ministry of Business, Innovation and Employment shows that the proportion of people who have been unemployed for more than six months is much lower than in the recession of the 1990s:
However, in another part of the labour market picture, employers are reporting it increasingly hard to find skilled staff, as this graph from the same report shows:
So it’s encouraging to read a recent report saying that school drop-out rates are at an all-time low – staying in school is the start of getting skilled. But it’s certainly possible to pick up skills in later life – more about this on our website for adults considering training or retraining.