New Zealand Jobless Rate Rises To 4.6% In Q2

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.6 percent in the second quarter of 2024, Statistics New Zealand said on Wednesday.

That beat forecasts for an increase of 4.7 percent and was up from 4,3 percent in the previous three months.

Employment was up 0.4 percent versus expectations for a decline of 0.2 percent, which would have been unchanged from the three months prior.

The participation rate was 71.7 percent - beating forecasts for 71.3 percent and up from 71.5 percent in Q1.

The labor cost index was up 0.9 percent on quarter and 3.6 percent on year.