NZ Unemployment Rate hits record low
07 February 2008
New Zealand's Q4 unemployment rate drops to a record low, with jobs surging at more than double expectations. This news is clearly a worry for the RBNZ as it indicates no let up in wage inflation pressures; Statistics NZ says the seasonally adjusted jobless rate fell to 3.4% from 3.5% the lowest level in 20 years. Jobs grew 1.1% on-quarter, +2.5% on-year with the level of employed being the highest in 2 decades.