Stats NZ data shows unemployment at 5.3 per cent but William Terite argues the "S-word" (slowdown) is biting deeper into Pacific communities than the numbers suggest.
Photo/Supplied
Opinion
Will's Word: 163,000 New Zealanders out of work and counting
Forget the jargon. William Terite looks at the real-world impact of the latest unemployment figures on Pacific families and the tough road still ahead.
William Terite
Published
06 May 2026, 10:36am
Share
Copy Link
Top stories
Top stories
The latest unemployment figures confirm what many already feel: this is a tough labour market.
Stats NZ puts unemployment at 5.3 per cent in the March 2026 quarter. A slight dip from 5.4, but not exactly a turning point.
That still means 163,000 people out of work.
And timing matters. These figures don’t yet capture the full impact of the Middle East conflict, so there’s every chance things tighten further before they ease.
ASB economist Wesley Tanuvasa told me today not to expect a quick turnaround, with next year looking more realistic for recovery.
That’s a tough message, especially for Pacific communities, which are often overrepresented in unemployment figures. Many of our people are in sectors like construction, and that’s exactly where the slowdown is biting.
Too many Kiwis, especially our young Pasifika, are being left behind by the latest unemployment numbers. William Terite cuts through the "economic gobbledygook" to show the real-world struggle facing 163,000 out-of-work New Zealanders. Photo/Supplied
Zoom out and it gets even more concerning.
Underutilisation sits at 12.9 per cent, that’s around 406,000 people either out of work or not getting enough of it.
And young people are slipping through the cracks. The number of 15 to 24-year-olds not in work, education or training has climbed to 14.4 per cent.
Listen to Will's Word below
So forget the economic gobbily goop for a second.
These are real people, real families, trying to stay afloat during a cost-of-living squeeze, rising fuel prices, and growing global uncertainty.
It raises the inevitable question: where are the solutions?
Because while global shocks are clearly playing a role, and the Government can’t control everything happening offshore, people here still need relief.
The Reserve Bank is expected to hold the Official Cash Rate at 2.25 per cent later this month, which may ease pressure on borrowers for now. But with inflation still stubborn, that balancing act won’t last forever.