New Zealand unemployment rises to 5.7% as wage growth slows
New Zealand’s unemployment rate rose to 5.7% in the September quarter, the highest since 2015, InvestingLive reports. Employment fell 0.1%, against forecasts for a 0.4% rise. Private-sector labour costs excluding overtime grew 0.4% over the quarter and 2.0% over the year. The report says the weaker labour market reduced pressure for another RBNZ rate increase, while Saturday’s election adds uncertainty over the bank’s mandate.
قراءة التفاصيل
New Zealand’s unemployment rate rose to 5.7% in the September quarter, the highest since 2015, InvestingLive reports. Employment fell 0.1%, against forecasts for a 0.4% rise. Private-sector labour costs excluding overtime grew 0.4% over the quarter and 2.0% over the year. The report says the weaker labour market reduced pressure for another RBNZ rate increase, while Saturday’s election adds uncertainty over the bank’s mandate.
التحليل: InvestingLive argues that a weaker labour market reduces pressure for the RBNZ to resume rate increases.
الرأي المقابل: Limitation: the report says the RBNZ still signalled that further increases were likely; the labour data do not constitute a policy decision.
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