Weaker than expected jobs data in December raises rate cut prospects

Wed, 06 Feb 2019

By Rebecca Howard Feb. 7 (BusinessDesk) - Fewer people had jobs in the December quarter and wage inflation remained tepid, something that could increase the likelihood of a rate cut in New Zealand. The seasonally adjusted unemployment rate rose to 4.3 percent in the three months ended Dec. 31, from a revised 4 percent in the September quarter, Statistics New Zealand said in its household labour force survey. The revised September quarter number was still the lowest in 10 years. Economists surveyed by Bloomberg had tipped the unemploym...

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