New Zealand Jobless Rate Falls To 3.4% In Q3

(RTTNews) - The unemployment rate in New Zealand came in at 3.4 percent in the third quarter of 2021, Statistics New Zealand said on Wednesday - beneath expectations for 3.9 percent and down from 4.0 percent in the three months prior.

The employment change was 2.0 percent on quarter, exceeding expectations for an increase of 0.4 percent and accelerating from 1.0 percent in the previous three months.

Labor costs were up 0.8 percent on quarter and 2.4 percent on year, up from 0.7 percent on quarter and 2.1 percent on year in the second quarter.

The participation rate was 71.2 percent, beating forecasts for 70.6 percent and up from 70.5 percent in Q2.