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New Zealand Jobless Rate Climbs To 3.9% In Q3
(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 3.9 percent in the third quarter of 2023, Statistics New Zealand said on Wednesday.
That was in line with expectations and up from 3.6 percent in the previous three months.
The New Zealand employment change was down 0.2 percent on quarter versus forecasts for an increase of 0.4 percent and down from 1.0 percent in the three months prior.
The participation rate was 72.0 percent, shy of expectations for 72.5 percent and down from 72.4 percent in the second quarter.
The labor cost index was up 0.8 percent on quarter and 4.1 percent on year.
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New Zealand Holds Key Rate As Expected
The Reserve Bank of New Zealand left its benchmark interest rate unchanged on Wednesday citing elevated level of uncertainty and near-term risks to inflation. The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent. The bank has paused the easing cycle for the first time since it started cutting rates in August 2024.
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New Zealand Building Permits Jump 10%In May
The number of building permits issued in New Zealand was up a seasonally adjusted 10 percent on month in June, Statistics New Zealand said on Tuesday - coming in at 3,151.
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New Zealand Has NZ$5.5 Billion Current Account Shortfall
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New Zealand Building Consents Slump 15.6% In April
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In April, there were 2,418 new dwellings consented, comprising: 1,148 stand-alone houses; 1,105 townhouses, flats, and units; 85 retirement village units; and 80 apartments.
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The Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected on Wednesday, as higher trade tariffs and increased policy uncertainties overseas are set to weigh on domestic economic outlook. The Monetary Policy Committee, led by acting governor Christian Hawkesby, decided to cut the Official Cash Rate by 25 basis points to 3.25 percent. The decision was passed
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New Zealand Retail Sales Rise 0.8% In Q1
The total volume of retail sales in New Zealand was up a seasonally adjusted 0.8 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Friday.
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47 days ago
