Young people continue to bear the brunt of job losses.
The latest Stats NZ figures reveal the unemployment rate among those aged 15 to 19 hit 23%, the highest in more than a decade.
The age group also lost more than 70% of the 32,000 net jobs lost last year.
Former Reserve Bank economist Michael Reddell told Mike Hosking young people typically bear the brunt.
He says it's never got below around 13% even when the economy is at its strongest.
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The Mike Hosking Breakfast