New Zealand's Jobless Rate Falls to Record-Low 3.6%


New Zealand's jobless rate fell to an all-time low in the second quarter, adding to inflation pressure and increasing the prospect the central bank will keep interest rates at a record high until at least June next year.

The jobless rate dropped to 3.6 percent from a revised 3.7 percent in the first quarter, Statistics New Zealand said in Wellington on August 8. Companies added 14,000 workers. The median estimate of 15 economists in a Bloomberg News survey was for an unemployment rate of 3.7 percent and 6,000 extra jobs.

 


Bloomberg
8/9/2007 5:39:15 AM