NZ unemployment rate at 3.3% in June quarter

Food service was among sectors with the biggest wage growth. (Image: Deposit Photos)

Wed, 03 Aug 2022

The tight labour market and the highest wage increases in more than a decade will keep the central bank on its tightening track. Unemployment held steady at 3.3% in the June quarter versus 3.2% in the March quarter. The seasonally adjusted number of unemployed people reached 96,000 versus 94,000.Annual wage inflation – as measured by the labour cost index (LCI) – rose 3.4% on the year, with private sector wages up 3.4% and public sector wages up 3%. The June quarter had the largest increase in labour cost index salary and...

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