That's the key question ahead of the release of the unemployment figures on Wednesday, August 7. However, the RBNZ would not want the unemployment rate to rise too fast or far. It would also give us our highest rate of unemployment in over three years following a period of extremely low unemployment - as low as 3.2%. The RBNZ's picking a peak unemployment rate of 5.1% next year, but the bank economists reckon it's going to go a bit higher than that, with picks of 5.4% to 5.5% being bandied around. One of the other major points of interest the RBNZ will be focusing on in the forthcoming labour data is the wage figures.

Source: Stuff August 03, 2024 21:44 UTC