New Zealand Jobless Rate 4.8% In Q3

(RTTNews) - New Zealand posted a seasonally adjusted unemployment rate of 4.8 percent in the third quarter of 2024, Statistics New Zealand said on Wednesday.

That was beneath expectations for 5.0 percent and up from 4.6 percent in the previous quarter.

Overall employment was down 0.5 percent on quarter, shy of forecasts for a fall of 0.4 percent after adding 0.4 percent in the second quarter.

The participation index came in at 71.2 percent, missing forecasts for 71.5 percent and down from 71.7 percent in the three months prior.

The labor cost index rose 0.6 percent on quarter and 3.4 percent on year, slowing from 0.9 percent on quarter and 3.6 percent on year in the second quarter.