HiFX Data Update - NZ Q3 Employment Release

HiFX Data Update - NZ Q3 Employment Release

The NZ Employment numbers for Q3 have just been released.

They came in better than expected overall.

NZ Employment data for Q3 was:

- Employment (Q/Q) 2.2% (consensus 0.8%)
- Employment (Y/Y) 4.2% (consensus 2.5%)
- Unemployment Rate 4.6% (consensus 4.7%)
- Participation Rate 7.1% (consensus 70.2%)

Private ordinary time wages grew +0.7% in Q3 and +1.9% on the year - both on expectations.

Q2 employment growth was revised higher to -0.1% from -0.2%.

The NZD is higher in immediate response.

Current indicative levels are:

NZD-USD 0.6875 / 0.6900
NZD-AUD 0.8985 / 0.9010
NZD-EUR 0.5900 / 0.5925
NZD-GBP 0.5175 / 0.5200
NZD-JPY 78.15 / 78.40

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