N.Z. Jobless Rate Unexpectedly Rises to Highest Since 2010
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New Zealand’s unemployment rate unexpectedly rose to the highest since 2010 as more people unsuccessfully sought work, adding to the case for the central bank to keep interest rates at a record low this year.
The jobless rate rose to 6.7 percent in the first quarter from a revised 6.4 percent in the three months through December, Statistics New Zealand said in a report today in Wellington. The rate exceeded the 6.3 percent median forecast in a Bloomberg News survey of 10 economists and was the highest since the fourth quarter of 2010.