Liz Kendall, Senior Economist at ANZ, notes that the New Zealand’s labour market tightened unexpectedly in the September quarter, with the unemployment rate falling to 3.9% – the lowest rate since June 2008. Key Quotes “This was despite an increase in the participation rate to 71.1%, another all-time record.” “Unemployment is below estimates of the level consistent with maximum sustainable employment. The labour market is stretched, with difficulty finding skilled labour at an elevated level. The underutilisation rate also dipped to 11.3% – the lowest since December 2008.” “Employment growth grew a whopping 1.1% q/q to be up 2.8% y/y.” “Wage inflation was modest, following the minimum wage boost in Q2. Our preferred measure of wages – the private sector Labour Cost Index – increased 0.5% q/q. Annual growth moderated from 2.1% to 1.9% y/y, with last year’s care worker settlement dropping out of the annual calculation. The increase in the minimum wage on April 1 continues to boost annual growth to the tune of 0.2%pts, including some spill-over effects.” “We expect that wage inflation will increase further from here.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next FOMC: Expect no material change in view – Westpac FX Street 3 years Liz Kendall, Senior Economist at ANZ, notes that the New Zealand's labour market tightened unexpectedly in the September quarter, with the unemployment rate falling to 3.9% - the lowest rate since June 2008. Key Quotes "This was despite an increase in the participation rate to 71.1%, another all-time record." "Unemployment is below estimates of the level consistent with maximum sustainable employment. The labour market is stretched, with difficulty finding skilled labour at an elevated level. The underutilisation rate also dipped to 11.3% - the lowest since December 2008." "Employment growth grew a whopping 1.1% q/q to be up 2.8% y/y."… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
