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12 Aug 2025 11:07
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  •   Home > News > Business

    Time is ticking for our economic recovery - with unemployment still a pressing issue

    Time is ticking for our economic recovery - with unemployment still a pressing issue


    Westpac Bank's Economic Overview for August has revealed the unemployment rate's due to peak at 5.3-percent by the end of the year, and decline in the two years after.

    It's also found annual GDP growth should strengthen to 2.4-percent this year, and around 3.1-percent next year.

    Westpac NZ Chief Economist Kelly Eckhold say signs of falling unemployment rates should come around Christmas.

    He says there were concerns a few years ago that unemployment could go all the way up to 6-percent before turning around.

    © 2025 Newstalk ZB, NZCity

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