Global Economic News

New Zealand Unemployment Rate Jumps To 5.7% In Q1

The unemployment rate in New Zealand climbed to a seasonally adjusted 5.7 percent in the first quarter of 2016, Statistics New Zealand said on Wednesday.

That missed forecasts for 5.5 percent, and was up from the upwardly revised 5.4 percent in the preceding three months (originally 5.3 percent).

Employment was up 1.2 percent on quarter - topping expectations for 0.6 percent and accelerating from 0.9 percent in the three months prior.

On a yearly basis, employment jumped 2.0 percent - also beating forecasts for 1.3 percent, which would have been unchanged.

by RTTNews Staff Writer

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