1. Economy—Employment and WagesNUK KORAKO (National) to the Minister of FinanceORAL QUESTIONSQUESTIONS TO MINISTERSEconomy—Employment and Wages1. NUK KORAKO (National) to the Minister of Finance: What reports has he received on the progress of the New Zealand economy?Hon STEVEN JOYCE (Minister of Finance): The New Zealand economy continues to track in a positive direction as judged by the latest household labour force survey. The data released by Statistics New Zealand today showed that in the first 3 months of this year the percentage of unemployed people fell to 4.9 percent. In real terms that means there are now 29000 more people in employment than there were at the end of December last year taking the total employed to a new record in New Zealand of 2539000. In the March year 137000 jobs were created. The number of jobs being created has grown faster than growth in the working-age population now for the sixth quarter in a row.Nuk Korako: How is this job growth helping the wider economy?Hon STEVEN JOYCE: It is encouraging that in the March quarter 12000 more people moved into full-time work and 16000 more into part-time work. Many of these jobs are in key sectors of the New Zealand economy. Last week for example I announced that the Government would allocate an extra $11 billion in capital over the next four Budgets so it is heartening to see that the construction sector is a key area for job growth and has record highs. Likewise with tourism one of our biggest exporter earners it is encouraging to see the number of jobs in the accommodation and food services sectors continuing to grow strongly.Nuk Korako: What progress has been made with youth employment?Hon STEVEN JOYCE: I am pleased to report that the number of young people not in education employment or training fell to 12.8 percent. That means we have 4000 more young people either participating in the economy or building up their skills. There is of course still more work to do in this regard and that is why the Government will continue to push policies—[Interruption]Mr SPEAKER: Order! I apologise for interrupting the Minister but there is a level of interjection that now makes it unreasonable. I cannot hear the answer. One particular member who is interjecting a lot has a question later in this question time; it would be unfortunate if he was not here to ask his own question.Hon STEVEN JOYCE: As I said there is still more work to do in this regard and that is why the Government is continuing to push policies that support robust economic growth particularly in regional New Zealand and create exciting opportunities for young people.Nuk Korako: How do Kiwi workers benefit directly from New Zealand's strong economic growth?Hon STEVEN JOYCE: Not only do the Statistics New Zealand figures show that there are more jobs available but we are also seeing steady wage growth as well. Wages grew by 2.1 percent over the year taking the average annual wage to $58935. That compares with inflation which was running at a very similar percentage—2.2 percent as well in fact—Grant Robertson: Yeah that would be below it wouldn't it Steven?Hon STEVEN JOYCE: —but like most reasonable—sorry?Grant Robertson: That would be below the rate of inflation.Mr SPEAKER: Order!Hon STEVEN JOYCE: No it is actually exactly the same but thank you. Anyway looking at the trend after-tax wages look set to continue rising as they have done for several years even after adjusting for inflation.