A warning we've been burnt by high hopes for economic recovery.
Stats NZ data out today puts unemployment at 5.4 percent in the December quarter.
The numbers were less severe than forecasts from Treasury, but still reflect a 10 year unemployment high.
Infometrics Principal Economist Brad Olsen says the talk about getting momentum back last year fell short.
"For businesses, they need to see stronger business sales coming through their front door before they commit to hiring more workers."
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Heather du Plessis-Allan Drive