Economists expect 3Q unemployment rose as economy slowed

Mon, 04 Nov 2019

Unemployment probably ticked up from an 11-year low in the September quarter on softer economic conditions but may not be enough to trigger another interest rate cut. Economists polled by Bloomberg forecast unemployment was 4.1 percent in the three months ended Sept. 30, versus 3.9 percent in the June quarter. Statistics New Zealand is scheduled to release the data on Wednesday.Westpac Bank economist Michael Gordon said he expects the unemployment rate lifted to 4.2 percent with indicators suggesting “growth was particularly subdued” in th...

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