Unemployment in New Zealand is at its lowest level since 2008 but there will be lingering concerns about the lack of wage growth and the impact this will have on the inflation outlook. Statistics New Zealand has changed some of its survey data to measure unemployment and employment and those changes are still bedding in. Statistics NZ figures showed unemployment fell to 4.9% in the three months ending September, down from market expectations of 5.1%. The fall in the unemployment rate was propelled by a stronger-than-expected 1.4% lift in employment in the quarter from market expectations of a 0.5% rise. Ms Boniface said the strengthening labour market continued to entice more people into the workforce.

Source: Otago Daily Times November 02, 2016 17:09 UTC