The official unemployment rate was 4.3 per cent in the March 2024 quarter, compared with 4 per cent in the previous quarter, according to figures just.
Dollar rebounded broadly overnight and stayed generally firm in Asian session. Stock investors were apparently adopting a cautious stance and lightening up positions ahead of Fed's rate decision and subsequent press conference today. With recent data pointing to persistent inflationary pressures, expectations are mounting that Fed would adopt a more hawkish tone. It's a minimum that Fed will indicate that rate cuts would only be considered once inflation consistently moves towards the target. The central question now is the extent of this hawkish shift.
New Zealand employment fell -0.2% qoq in Q1, much worse than expectation of 0.3% qoq growth. Unemployment rate rose from 4.0% to 4.3%, above expectation of 4.0%. Underutilization rate rose 0.5% to 11.2%. Employment rate fell -0.6% to 68.4%. Labor force participation rate fell -0.3% to 71.5%.
Unemployment rises to 4 3% from 4% interest.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from interest.co.nz Daily Mail and Mail on Sunday newspapers.