Nicola Willis: Finance Minister on the unemployment rate rising to 4.8%

The Mike Hosking Breakfast

While there are signs of light at the end of the economic tunnel, the job market is likely to remain tough for a little while yet.

The unemployment rate has risen to 4.8%.

It's lower than expected as more people are leaving the labour force, many opting for retraining or retirement instead.

Finance Minister Nicola Willis told Mike Hosking unemployment is likely to keep rising, as it always lags behind other economic indicators.

She says it may not go reach the level some of the more pessimistic outlooks have predicted.

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