NZ unemployment rises to 13-year high 7.3 percent as jobs shrink; kiwi tumbles

Wed, 07 Nov 2012

By Paul McBeth Nov 8 (BusinessDesk) - New Zealand's unemployment rate unexpectedly rose to a 13-year high as the pool of jobs shrank for a second straight quarter with a flat labour market in Auckland and fewer full-time staff. The kiwi dollar tumbled about half a US cent. The unemployment rate rose half a percentage point to 7.3 percent in the September quarter, the highest level since June 1999, according to Statistics New Zealand's household labour force survey. Economists surveyed by Reuters were picking a 0.1 percentage point fall to 6.7...

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