NZ jobless rate falls to 5.1% as statistician adopts new methodology; kiwi gains

Tue, 16 Aug 2016

By Paul McBeth Aug. 17 (BusinessDesk) - New Zealand's unemployment rate fell more than expected in the second quarter as Statistics New Zealand adopted a new way of measuring the labour market to bring the country in line with international practices, and while a growing economy continued to support jobs growth. The kiwi dollar jumped above 73 US cents after the release. The jobless rate declined to a seasonally adjusted 5.1 percent or 131,000 people, in the June quarter from a revised 5.2 percent rate in March, the government department...

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