New Zealand Jobless Rate Rises To 4.3% In Q1

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.3 percent in the first quarter of 2024, Statistics New Zealand said on Wednesday.

That was in line with expectations and up from 4.0 percent in the previous three months.

The employment change was -0.2 percent on quarter, missing forecasts for a gain of 0.3 percent and down from 0.4 percent in the three months prior.

The labor cost index was up 0.8 percent on quarter and 3.8 percent on year, easing from 1.0 percent on quarter and 3.9 percent on year in the previous quarter.

The participation rate slipped to 71.5 from 71.9.