New Zealand Unemployment Rate Unexpectedly Edges Higher to 3.3 Percent

New Zealand Unemployment Rate Unexpectedly Edges Higher to 3.3 Percent
Pedestrians and shoppers on Ponsonby Road in Auckland, New Zealand, on July 27, 2022. Phil Walter/Getty Images
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New Zealand’s unemployment rate has, against expectations, risen 0.1 percent to 3.3 percent in the June quarter, Stats NZ revealed.

“Measures of spare labour market capacity have fallen over the year and remained low for several quarters, continuing to show a tight labour market,” Stats NZ senior manager Becky Collett said.