New Zealand Jobless Rate Climbs To 3.9% In Q3

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 3.9 percent in the third quarter of 2023, Statistics New Zealand said on Wednesday.

That was in line with expectations and up from 3.6 percent in the previous three months.

The New Zealand employment change was down 0.2 percent on quarter versus forecasts for an increase of 0.4 percent and down from 1.0 percent in the three months prior.

The participation rate was 72.0 percent, shy of expectations for 72.5 percent and down from 72.4 percent in the second quarter.

The labor cost index was up 0.8 percent on quarter and 4.1 percent on year.