Press Release – Kiwi EconomicsWhile the unemployment rate rising is worrying, we are more concerned with the underutilisation rate. The underutilisation rate grew to 13.8%, the highest in over 12 years. We were expecting the Kiwi unemployment rate to peak at 5.6% later in the year, but it came earlier than expected. The March quarter unemployment rate was also revised up, to 5.4% from the previous estimate of 5.3%. While the unemployment rate rising is worrying, we are more concerned with the underutilisation rate.