UPDATE Kiwi dollar falls as jobs report shows falling participation, shrinking employment

Wed, 06 Feb 2013

By Paul McBeth Feb. 7 (BusinessDesk) - New Zealand dollar shed half a cent against the greenback after a fall in the headline unemployment rate masked figures showing kiwis quit the workforce in droves and employment shrank in the final three months of 2012. The unemployment rate fell to 6.9 percent in the December quarter from a 13-year high as people stopped looking for work, according to Statistics New Zealand's household labour force survey. The participation rate fell a record 1.2 percentage points to 67.2 percent, the lowest level sin...

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