Sharechat Logo

FIRST TAKE: NZ unemployment rate hits 11-year low

Tuesday 6th August 2019

Text too small?

New Zealand’s unemployment rate fell to an 11-year low while wages ticked up on the back of a rise in the minimum wage.

The seasonally adjusted unemployment rate fell to 3.9 percent in the three months ended June 30, from 4.2 percent in the March quarter, Stats NZ said in its household labour force survey.

Economists surveyed by Bloomberg had tipped the unemployment rate to lift to 4.3 percent.

The New Zealand dollar rose to 65.72 US cents from 65.26 cents just ahead of the data.

The unemployment rate was the lowest since June 2008 when it was 3.8 percent.

“Since late 2012, the seasonally adjusted unemployment rate has largely been tracking down towards levels seen before the global financial crisis in 2008,” said labour market and household statistics senior manager Sean Broughton.

On the wages front,  private sector wage inflation – including overtime - rose 0.8 percent in the quarter for a 2.2 percent annual increase.

Public sector wage inflation was up 0.4 percent in the quarter for a 2.2 percent annual gain.

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report