Coronavirus latest: California hospitalisations fall below 15,000, projected to halve in month

  • Date: 03-Feb-2021
  • Source: Financial Times
  • Sector:Healthcare
  • Country:Middle East
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Coronavirus latest: California hospitalisations fall below 15,000, projected to halve in month

Jamie Smyth in Sydney

New Zealand's economy is recovering faster than expected from a Covid-19 slump with unemployment falling rapidly and a record surge in new construction jobs in the December quarter.

The jobless rate dropped to 4.9 per cent in the three months to the end of December, down from 5.3 per cent in the previous quarter, as 17,000 people joined the workforce. This follows a sharp fall in the number of employed people in the six months to the end September, when the government imposed tough lockdowns aimed at eliminating Covid-19 from the Pacific nation.

New Zealand's employment rate of 66.8 per cent in the December quarter remains slightly below pre-pandemic levels but gives it the fifth highest employment rate in the OECD for 15-64 year olds, according to New Zealand's statistics agency.

Grant Robertson, the country's finance minister, said the government's adept handling of Covid-19 had boosted business and consumer confidence. A wage subsidy scheme and pandemic support measures kept people connected to their jobs and supporting businesses and households, he said.

"Construction jobs rose by 21,000 annually, which included those working as plumbers, electricians and roofers. This more than offset the impact of Covid-19 on tourism-related industries,“ said Mr Robertson.

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