New Zealand Q3 unemployment hits 4-year high

By Reuters

Nov 07, 2024 12:08 am

SYDNEY ― New Zealand's jobless rate rose to a near four-year high in the September quarter as employment dropped by the most since 2020, cementing market wagers another outsized cut in interest rates will be delivered later this month.

Wednesday's data from Statistics New Zealand showed the unemployment rate rose to 4.8 percent in the third quarter, from 4.6 percent the previous quarter and just under analyst forecasts of 5.0 percent.

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