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Rakon shares rocket on earnings guidance and Chinese customer cut
Will Mace
Tue, 29 Apr 2025
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March employment data improves, quarterly unemployment to rise
New Zealand businesses filled more job positions in March, but a sluggish economy is still expected to drag quarterly unemployment higher.
Statistics NZ data out today showed the seasonally adjusted number of filled jobs rose 0.2%, or 3548 jobs, to 2.36 million filled jobs last month, when compared with February.
The primary sector, goods-producing, and service industries all reported growth last month.
On an annual basis, filled jobs were down 34,542 from March last year, with declines in most areas, including construction; administrative and support services; professional, scientific, and technical services; and manufacturing, while the healthcare and social assistance sector added 4800 jobs.
ANZ senior economist Miles Workman pencilled in a 0.2% increase in the unemployment rate to 5.3% in the March quarter. That data gets published next week.
He said that was a touch above the RBNZ’s February Monetary Policy Statement forecast.
General Finance reports stronger quarterly results
Non-bank deposit taker General Finance has reported robust quarterly growth, with a net profit after tax of $597,571.
The company has released its quarterly unaudited report for the three months ended March 31. Total assets rose 8% from the December quarter to $211.9 million, while it held $57.8m in cash, cash equivalent, and bank deposits.
Managing director Brent King said the quarterly performance reinforced the “robust and stable” nature of General Finance. “We are well positioned to build on this momentum and continue our growth journey.”
General Finance is a New Zealand-owned and operated finance company and is a subsidiary of General Capital.
Last month, General Capital announced the resignation of Megan Glen as a non-executive director of the board from March 31.
Chair Rewi Bugo said the board would undertake a “skills review” to determine the next director, with an appointment likely at the next annual meeting.
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