New Zealand Loses 10,000 Jobs Across Regions in Three Months

New data from Stats NZ reveals a loss of 10,000 jobs in the three months ending June 2025, resulting in 50,000 fewer jobs than in December 2023, with significant declines in construction, manufacturing, retail, accommodation, and food services. Major urban centers such as Auckland and Wellington lost thousands of jobs, while provincial areas like Kaipara District, Horowhenua, Gore, and Upper Hutt experienced job losses exceeding 9 percent, despite the farming sector showing strength due to high commodity prices. Economists Shamubeel Eaqub and Mike Jones noted the surprising decline in employment in rural centers and expressed cautious optimism that the rural economy's strong cash flows might lead to future labor market improvements, although the labor market is typically a lagging indicator. Meanwhile, in the U.S., revised employment data revealed a substantial downward revision of nearly 1.5 million jobs gained during 2024, prompting criticism of the Biden administration's reported job figures. These revisions highlight ongoing challenges in labor market reporting and economic conditions in both New Zealand and the United States. Overall, the data indicate persistent labor market weaknesses amid regional disparities and caution in economic spending and investment.