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New Zealand Jobless Rate Climbs To 4.3% In Q4

The unemployment rate in New Zealand came in at 4.3 percent in the fourth quarter of 2018, Statistics New Zealand said on Thursday - above forecasts for 4.1 percent and up from 3.9 percent in the three months prior.

Employment was up 0.1 percent on quarter and 2.3 percent on year - short of forecasts for gains of 0.3 percent on quarter and 2.6 percent on year. Employment was up 1.1 percent on quarter and 2.8 percent on year in the third quarter.

The participation rate came in at 70.9 percent, shy of expectations for 71.1 percent - which would have been unchanged.

Labor costs for the private sector and wages excluding overtime both were unchanged at 0.5 percent on quarter - although both missed expectations for 0.6 percent.

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