The long awaited economic recovery could be beginning - with expectation unemployment's hit its peak

Stats NZ data shows the rate reached 5.3 percent in the September quarter, with 160-thousand people looking for a job.

It's the highest in almost nine-years.

Infometrics principal economist Nick Brunsdon says there are positive signs of recovery.

He says there's been signs of job growth over the last few months and employers are holding onto their staff, showing they see growth around the corner.