New Zealand Q4 Jobless Rate 4.0%

(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.0 percent in the fourth quarter of 2023, Statistics New Zealand said on Wednesday.

That was below expectations for 4.3 percent and up from 3.9 percent in the previous three months.

Employment was up 0.4 percent on quarter, beating forecasts for a gain of 0.3 percent after slipping 0.2 percent in the three months prior.

The labor cost index gained 1.0 percent on quarter and 3.9 percent on year after rising 0.8 percent on quarter and 4.1 percent on year in Q3.

The participation rate was 71.9 percent, shy of expectations for 72.0 percent - which would have been unchanged.