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New Zealand: Unemployment rate falls to 5.3% in Q4, lowest since 2009
FXStreet (Córdoba) - The New Zealand unemployment rate fell to 5.3% in the fourth quarter, from 6.0% the previous quarter and below the 6.1% expected. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September 2015 quarter.
In the same period, employment grew 0.9%, after falling in the previous quarter. This has resulted in annual employment growth of 1.3%. The participation rate fell slightly to 68.4% in Q4.
The labor cost index rose 0.4% in the December quarter, just below the 0.5% expected, while it eased to 1.5% over the year, the lowest since Q1 2010.
