New Zealand’s jobless rate rises to decade-high 5.4% in Q4

[SYDNEY] New Zealand’s jobless rate rose to its highest in 10 years in the fourth quarter at 5.4 per cent, even while employment increased by 0.5 per cent from the previous quarter, according to data released by Statistics New Zealand on Wednesday.

Economists polled by Reuters had forecast an unemployment rate of 5.3 per cent and for employment to rise 0.3 per cent. The central bank had also expected the unemployment rate to be 5.3 per cent. REUTERS