New Zealand Jobless Rate Climbs To 5.2% In Q4

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 5.2 percent in the fourth quarter of 2016, Statistics New Zealand said on Wednesday - exceeding expectations for 6.1 percent, which would have been unchanged from the three months prior.

The participation rate was 70.5 percent, topping forecasts for 70.2 percent and up from 70.1 percent in the third quarter.

The employment change was up 0.8 percent on quarter, beating estimates for 0.7 percent and down from 1.3 percent in the previous three months.

On a yearly basis, the employment change gained 5.8 percent - shy of forecasts for 6.1 percent, which would have been unchanged.