New Zealand Jobless Rate Rises To 3.4% In Q4

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 3.4 percent in the fourth quarter of 2022, Statistics New Zealand said on Wednesday.

That was higher than expectations for 3.3 percent, which would have been unchanged.

New Zealand's overall employment increased 0.2 percent in Q3, shy of forecasts for 0.3 percent and down from 1.3 percent in the previous three months.

The labor cost index was up 1.1 percent on quarter and 4.3 percent on year after adding 1.1 percent on quarter and 3.8 percent on year in Q3.

The participation rate was 71.7 percent, unchanged and as expected.