NZ Q3 jobs report out now: Unemployment rate 3.9% (expected 4.4%)

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The quarterly employment report from New Zealand 

Unemployment rate: 3.9% …. HUGE BEAT 

  • expected 4.4%, prior was 4.4%, revised from 4.5%

Employment change q/q: 1.1% … ditto for another huge beat

  • expected 0.5%, prior was 0.5%

Employment change y/y: 2.8% BEAT 

  • expected 2.0%, prior was 3.7%

Participation rate: 71.1% rising even as unemployment falls, another strong sign in this report

  • expected 70.9%, prior was 70.9%

Average hourly earnings: 1.4% HUGE BEAT here also 

  • expected 0.8%, prior was 0.2%

Private wages including overtime: 0.5%

  • expected 0.5%, prior was 0.6%

Private wages excluding overtime: 0.5%

  • expected 0.5%, prior was 0.6%

more to come   

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