New Zealand Unemployment Rate in line with expecations Q3, 5.3% vs prev 4.0%
|NZ Unemployment Rate Q3: 5.3% (est 5.3%; prev 4.0%). The kiwi is pressured by a handful of pips.
Key notes
Average hourly earnings1.4% (est 0.3%; prev 0.4%).
Employment change QoQ -0.8% (est -0.7%; prevr -0.3%).
Employment change YoY Q3: 0.2% (est 0.2%; prevr 1.5%).
Participation rate Q3 was 70.1% (est 70.0%; prevr 69.9%).
The Unemployment rate for Q3 was 5.3% (est 5.3%; prev 4.0%).
Kiwi update
Meanwhile, the bird sits at 0.6697 and trades heavily around the 0.67 level.
However, there is still scope to the upside so long as 0.6680 remains intact.
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