Our labour market could take some time to strengthen

Data out today shows the unemployment rate was unchanged at 5.1 percent - in the three months ending March.

Forecasters had predicted a slight rise.

The number of full time workers fell - and wage rate growth was smaller than we've seen recently.

Kiwibank chief economist Jarrod Kerr says while better than expected, unemployment's still a lot higher than a year ago.

He says if we peak this year, the rate could fall over 2026 - which will be good news for many.