NZ: Unemployment rate rose to 4.3% in the December quarter - Westpac

Michael Gordon, senior economist at Westpac, notes that the New Zealand’s unemployment rate rose to 4.3% in the December quarter, following an upwardly revised 4.0% in September and 4.4% in June.

Key Quotes

“New Zealand’s unemployment rate rose in the December quarter, reversing most of the surprise fall seen in the September quarter.”

“The labour market has gradually tightened over the past year, but the pace of improvement is slowing.”

“The pick-up in wage growth appears to be still in the early stages.”

“The Quarterly Employment Survey increased the risk of a weak December quarter GDP result.”