Unemployment rose to 4.6% in the June quarter. But will that prompt a rate cut?

(Image: Getty)

Wed, 07 Aug 2024

The job market deteriorated in the June quarter, with unemployment rising to 4.6%.That’s up from the 4.3% rate in the March quarter and in line with the Reserve Bank of New Zealand’s (RBNZ) forecast of 4.6%.Almost half the annual growth in unemployment and under-utilisation came from young people, while wage growth remained strongest in the public sector, according to figures released by Stats NZ on Wednesday.Economists had expected a rise in the official unemployment rate, with most picking it to land at 4.7%. Read more at the...

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