New Zealand Jobless Rate Rises to 5.7 Percent
New Zealand unemployment rose to 5.7 percent in the third quarter, reaching its highest level since 2015 as employment dipped. Wage growth also slowed during the period, sending the local currency lower following the data release.
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New Zealand's jobless rate rose to 5.7% in the third quarter, reaching its highest level since 2015 as employment fell 0.1%. Economists had forecasted a lower unemployment rate of 5.5% and a 0.4% employment increase. The weaker-than-expected labor market data highlights mounting economic pressures in the country.
