NZ unemployment rate rises to 6.4 percent in 2Q; more people join the workforce

Tue, 06 Aug 2013

By Tina Morrison Aug 7 (BusinessDesk) – New Zealand’s unemployment rate rose more than expected in the second quarter while the participation rate increased, with little evidence of wage inflation. 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 up from 6.2 percent in the first quarter, Statistics New Zealand said. An additional 5,000 people were available for work and looking for work, boosting the unemployment number, and the participa...

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