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The latest unemployment report from New Zealand showed a disappointing performance from the labor market for the period.
Data released by Statistics New Zealand showed that the unemployment rate rose to 4.3% which was higher than expected.
The fourth quarter unemployment rate scored higher compared to the revised unemployment rate of 4.0% during the third quarter. Previously, the unemployment rate had fallen to 3.9% marking a decade low during the third quarter.
New Zealand labor market summary
The median estimates polled by economists forecast that the unemployment rate would rise to 4.1% for the reported period.
Other data released included the quarterly employment growth rate. The employment change grew just 0.1% quarterly. This was a sharp decline compared to the 1.1% employment growth registered in the third quarter.
Economists were expe...
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