The job market's remaining tougher, for longer, than many economists were expecting. 

Unemployment's reached a ten-year high of 5.4% in the December quarter, and the broader under-utilisation rate is close to a ten-year high as well, at 13%. 

Finance Minister Nicola Willis is trying to point out silver linings, saying the data also shows more jobs have been created, and hours worked are increasing. 

Frog Recruitment Manging Director Shannon Barlow told Kerre Woodham that it’s a little early to get a clear read on the market, but there are positive signs already. 

She says there was a lift in permanent roles and businesses who were keen to hire in December, and January has been solid as well – notable since it’s normally a dead month.  

Barlow says it gives the idea that business confidence is beginning to translate into real hiring and growth decisions.  

LISTEN ABOVE