New Zealand Unemployment Rate Down to 6.2% in Q3


New Zealand employment rate rose to 64.4 percent and the unemployment rate fell to 6.2 percent in the third quarter of 2013.

Over the September 2013 year, the number of people employed rose 2.4 percent in the Household Labour Force Survey (HLFS). Demand for workers from established businesses rose 1.9 percent in the Quarterly Employment Survey (QES).

Annual wage inflation, as measured by the labour cost index (LCI) salary and ordinary time wage rates, eased to 1.6 percent in the September 2013 quarter, down from 1.9 percent this time last year. "Subdued wage inflation follows a period of higher unemployment during 2012 and coincides with low consumer price inflation," Ms Ramsay said.

Average ordinary time hourly earnings, as measured by the QES, edged up 2.6 percent over the year – up from 2.1 percent in the previous quarter. This increase was influenced by fewer part-time jobs.

New Zealand Unemployment Rate Down to 6.2% in Q3


Statistics New Zealand | anna@tradingeconomics.com
11/5/2013 9:52:05 PM