Jobs
New Zealand Jobless Rate Rises Less Than Economists Forecast
- Kiwi dollar rises as investors trim bets on RBNZ rate cuts
- Wage inflation slows as record immigration swells workforce
Pedestrians cross a road in Auckland, New Zealand.
Photographer: Fiona Goodall/BloombergNew Zealand unemployment rose less than expected at the end of last year, suggesting the central bank could remain cautious about cutting interest rates.
The jobless rate climbed to 4.0% in the fourth quarter from 3.9% in the third, Statistics New Zealand said Wednesday in Wellington. Economists expected 4.3%. Employment gained 0.4% from the previous three months, beating the 0.3% estimate. Wage inflation eased.