15 The employment story continues to look positive. While the rate of growth of both part-time and full-time employment eased off in the latest quarter, it remains at high levels. The labour force participation rate continues to surge and unemployment has stagnated. As inflation increases we should also see wages begin to rise. For us to see a significant correction in the housing market one factor would have to be a turnaround in employment, meaning people will not be able to pay mortgages or rent. Employment Annual Change in Employment, Full-time and Part-time Labour Force Participation Rate Unemployment Rate Source: Statistics New Zealand