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.
Related currencies / asset groups: NZD
InvestingLive argues that a weaker labour market reduces pressure for the RBNZ to resume rate increases.
InvestingLive reports New Zealand unemployment of 5.7% in the September quarter and a 0.1% quarterly fall in employment.
InvestingLive / ForexLivePrivate-sector labour costs excluding overtime rose 0.4% over the quarter and 2.0% over the year, according to the report.
InvestingLive / ForexLiveLimitation: 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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