New Zealand: Unemployment rate falls to over 5-year low
November 5, 2014
In the third quarter of 2014, the economy added 18,000 new jobs in seasonally-adjusted terms, which followed the 11,000 jobs created in the second quarter. Q3's improvement was driven by a large increase in full-time jobs that more than compensated for a mild decline in part-time positions.
Due to the positive development in the job market, the seasonally-adjusted unemployment rate declined slightly from Q2’s 5.6% to 5.4% in Q3, which represented the lowest unemployment rate since Q1 2009. The reading came in below market expectations of a slightly smaller drop to 5.5%.