New Zealand: Unemployment rate inches up in Q4
February 4, 2015
In the fourth quarter of 2014, the economy added 28,000 new jobs in seasonally-adjusted terms, which followed the 20,000 jobs created in the third quarter. Q4’s improvement came on the back of increases in full-time and part-time positions.
Despite the gain in new jobs, the seasonally-adjusted unemployment rate rose from Q3’s 5.4% to 5.7% in Q4 due to an increased labor force. Q4’s print represented the highest unemployment rate since Q1 2014. The reading came in above market expectations of a drop to 5.3%.