Scoop has an Ethical Paywall
New Zealand unemployment rate spiked to 7.3% in 4Q
New Zealand unemployment rate spiked to 7.3% in 4Q
Click here for the full Note and disclosures.
• Unemployment rate highest since
1999
• Employment contracted 0.1%q/q
• Hours
worked fell a further 0.4%q/q
The unemployment rate in New Zealand spiked to 7.3% in the December quarter (J.P. Morgan 7.2%, consensus 6.8%) from 6.5%. The increase in the final three months of the year means that the unemployment rate now is 3.5% higher than at the start of 2008, when the Kiwi economy slipped into a recession which extended for five straight quarters. The good news is that the unemployment rate probably has peaked.
Click here To Read The Full Release
ENDS
Advertisement - scroll to continue reading
Worldline: Boxing Day Spending Up On Last Year, But Pre-Christmas Spending Is Slightly Down
Skoltech: Scientists Reinvent Physical Laws Governing Formation Of Snowflakes, Raindrops, And Saturn’s Rings
Trademe: Trash To Treasure - Kiwi Make The Most Of Unwanted Christmas Gifts 
Financial Markets Authority: FMA Seeks Clarity From High Court On Use Of Eligible Investor Certificates In Wholesale Investment Sector
Scion: Scion’s Novel Internship Model Connects Talent With Industry
Financial Markets Authority: Westpac Admits To Misleading Representations That Resulted In $6.35m In Overcharges
