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’s unemployment rate remained unchanged at 3.4% over the March quarter, while the labour force participation rate increased to 72% and the employment rate increased to 69%, the highest levels on record.
The Reserve Bank of New Zealand will monitor the figures leading up to this month’s May 24 Official Cash Rate meeting (see: MNI: RBNZ Focuses on Labour, Dovish Shift Likely - Ex-staffers). The RBNZ shocked with a 50bp rise at its last meeting, lifting the OCR to 5.25% (see: MNI RBNZ WATCH: 50 Basis Point Hike Despite Slowing Economy).
The March quarter employment data released today noted strong employment rates across demographics, with the seasonally adjusted labour force participation rate for women increasing to 67.7%. Wage inflation also increased to 4.3% in the year to the March quarter (see chart).
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.