Weak jobs data help clear path for August rate cut

(Image: Depositphotos)

Tue, 29 Jul 2025

June jobs data point to a risk that unemployment was higher than expected in the second quarter, further paving the way for an August cut to the official cash rate.The filled jobs numbers edged 0.1% higher in June versus May but were down 1.2% on the year.Also, “revisions were again downward, which has tended to be the case over recent months and a reason to treat June’s small gain with a bit of caution”, BNZ senior economist Doug Steel said. Next week’s jobs data are expected to portray a weak labour market, he sai...

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