Wellington’s economy continues its strong run, despite last year’s earthquake, with 2.2% economic growth for the year to March, and another fall in the number of people unemployed in the city, Wellington Mayor Justin Lester says.
The data comes from the latest Infometrics Quarterly Economic Update.
“Wellington is enjoying some golden economic weather at the moment and that’s good news for local people. Businesses are humming, unemployment is down, and more people are finding jobs,” he says.
“This shows that despite the ongoing effects of the earthquake, our economy is performing very well.”
The Wellington unemployment rate fell to 4.7%, down from a peak of 5.8% in June 2013.
“It’s very encouraging to see a steady increase in the number of people in work. More people working means more money in people’s pockets which is good news for the local economy in turn. This is a sign our local economy is heading in the right direction.”
Wellington City Council’s Economic Development Portfolio Leader, Councillor Simon Marsh, says the report also shows increases in inward migration and housing consents, a sign the city is an attractive place for people to want to come and live.
“The past year saw 2775 people move to Wellington, up from just 2239 last year and against a 10-year average of just 1251. With Wellington recently being named the city with the best quality of life in the world, it’s not surprising we are seeing so many people wanting to live and work here.”