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New Zealand: Unemployment rate falls to 5.3% in Q4, lowest since 2009

FXStreet (Córdoba) - The New Zealand unemployment rate fell to 5.3% in the fourth quarter, from 6.0% the previous quarter and below the 6.1% expected. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September 2015 quarter.

In the same period, employment grew 0.9%, after falling in the previous quarter. This has resulted in annual employment growth of 1.3%. The participation rate fell slightly to 68.4% in Q4.

The labor cost index rose 0.4% in the December quarter, just below the 0.5% expected, while it eased to 1.5% over the year, the lowest since Q1 2010.

New Zealand Labour cost index (YoY) in line with expectations (1.6%) in 4Q

New Zealand Labour cost index (YoY) in line with expectations (1.6%) in 4Q
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NZD/USD: bulls are rescued on jobs

NZD/USD has been rescued on the jobs data with the unemployment improving at 5.3% vs 6.0% prior and 6.1% expected as well as the employment rate 0.9% vs 0.8% expected vs -0.4% previous, all for Q4 2015. The price has rallied from a low of 0.6490 and to score a high of 0.6540 so far at time of writing.
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