WELLINGTON, Dec. 15 (Xinhua/GNA) -- Economists expect the unemployment rate in New Zealand to rise to 7 percent of the workforce and stay there for the next two years.
A survey by the Institute of Economic Research released on Tuesday showed the economists see the unemployment rate rising from 6.5 percent currently.
This compares to an estimate by the Reserve Bank last week of a peak of 6.7 percent in the third quarter of next year.
The Treasury expects unemployment to peak at 8 percent of the workforce during the second half of next year.
It will update that forecast when it releases the Half-Year Economic and Fiscal Update on Tuesday.
GNA
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