NZ's jobless rate unexpectedly rises to 5.2% in 4th qtr; kiwi drops

Tue, 31 Jan 2017

By Rebecca Howard Feb. 1 (BusinessDesk) - A large number of people entering New Zealand's workforce pushed the unemployment rate back above 5 percent but also meant the labour force participation rate reached an all-time high, data from Statistics New Zealand shows. The unemployment rate rose to 5.2 percent in the three months ended Dec. 31 from a revised 4.9 percent in the September quarter, Statistics New Zealand said. Economists had been expecting the unemployment rate to ease back to 4.8 percent. The New Zealand dollar fell to 73.08...

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