New Zealand Unemployment Rate Falls To 4.9%

(RTTNews) - The jobless rate in New Zealand came in at 4.9 percent in the third quarter of 2016, Statistics New Zealand said on Wednesday.

That beat forecasts for 5.1 percent, which would have been unchanged from the three months prior.

The employment change was 1.4 percent on quarter, beating expectations for 0.5 percent after rising 2.4 percent in Q2. On a yearly basis, the employment change was 6.1 percent, again topping estimates for 5.4 percent and up from 4.5 percent in the previous three months.

The participation rate came in at 70.1 percent, exceeding expectations for 69.7 percent, which would have been unchanged.