The unemployment rate in New Zealand decreased more than expected in the second quarter while participation rate declined, data showed Wednesday.
The jobless rate came in at 5.6 percent in the second quarter, figures from Statistics New Zealand showed.
This was less than the jobless rate of 5.9 percent in the first quarter and the 5.8 percent rate expected by economists.
The number of employed people rose 3.7 percent year-over-year in the second quarter, the same rate as in the previous quarter. Economists had expected the number of employed people to increase 4 percent.
On a quarter-over-quarter basis, employment increased 0.4 percent, which was slower than the 0.9 percent in the first quarter and the 0.7 percent consensus estimate.
Meanwhile, the participation rate fell to 68.9 percent from 69.2 percent in the first quarter. Economists expected the participation rate to rise to 69.3 percent.
The average ordinary time hourly earnings climbed 0.2 percent quarter-on-quarter and 2.5 percent year-on-year to NZ$28.23.
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