Free Trial

MNI BRIEF: NZ Unemployment Rises, Wage Growth Still Elevated

(MNI) Melbourne

New Zealand unemployment has risen higher than expectations, while wage growth remains strong.

New Zealand unemployment rose to 4.3% over Q1, 10 basis points higher than expected, and up from Q4’s 4%, according to Stats NZ data released Wednesday.

The employment rate fell 0.6 percentage points over the quarter to 68.4%, while average ordinary time hourly earnings increased 5.2% in the year.

Keep reading...Show less
124 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

New Zealand unemployment rose to 4.3% over Q1, 10 basis points higher than expected, and up from Q4’s 4%, according to Stats NZ data released Wednesday.

The employment rate fell 0.6 percentage points over the quarter to 68.4%, while average ordinary time hourly earnings increased 5.2% in the year.

Keep reading...Show less