NZ unemployment edges up in Q2, lack of wage inflation points to interest rates remaining on hold

Wed, 07 Aug 2013

By Tina Morrison Aug 7 (BusinessDesk) – New Zealand’s labour market showed gradual improvement in the second quarter as unemployment edged up, wage growth remained subdued and more people looked for work, signalling interest rates are likely to remain on hold this year. The unemployment rate increased to 6.4 percent in the three months ended June 30, higher than the 6.3 percent expected by economists in a Reuters poll and coming off a three-year low of 6.2 percent last quarter. An extra 5,000 people were looking for work and the participation...

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