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New Zealand jobless rate jumps to 6.8 per cent
Aug 5, 2010, 0:29 GMT
Wellington - New Zealand's unemployment rate jumped from 6.0 per cent to 6.8 per cent during the June quarter, unwinding much of the drop recorded in the previous three months and indicating a period of volatility in the labour market, Statistics New Zealand reported on Thursday.
The jobless total rose 19,000 during the quarter to reach 159,000, an increase largely unexpected, as was the fall in unemployment in the previous period, manager of labour market statistics Peter Gardiner said.
He said the movements indicated that the labour market was still adjusting to the changing economic climate as New Zealand recovered from recession.
The new rate is still below the 7.1 per cent recorded in the December 2009 quarter.
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