New Zealand Unemployment Charge Per Unit Of Measurement Jumps To 5.2%; Nzd Tanks Against The U.S. Dollar

The New Zealand dollar sold-off sharply equally Statistics New Zealand (SNZ) released its exercise information for Q4 of 2016, which showed the unemployment charge per unit of measurement rising to 5.2 percent. An growth of 0.3 per centum compared to the unemployment charge per unit of measurement for Q3 of 2016, which was 4.9 percent.

Chart: http://www.stats.govt.nz/

Mark Gordon, labour in addition to income statistics director at SNZ, explained that a lot of novel workers entered the labour strength inwards the end quarter of 2016, "But piece the release of people inwards exercise has risen, in addition to hence has the release of unemployed people.," he adds.

In their press release, Statistics New Zealand too mentioned the uptick inwards the labour strength participation charge per unit of measurement to an all-time high of 70.5 percent.

“The retail trade, accommodation, in addition to nutrient services manufacture was the largest contributor to exercise growth over the latest quarter. This was followed closely yesteryear the structure in addition to the professional person services industries.”

Despite the uptick inwards the labour strength participation rate, the currency markets did non accept kindly to the ascent inwards the unemployment rate.

At press time, the New Zealand dollar is downward or in addition to hence 0.75 per centum against the U.S.A. dollar:

NZD flag photograph credit: Christoph Strässler