New Zealand's unemployment rate ticks up in Q2

FXStreet (Bali) - New Zealand's unemployment rate rose to 5.9 percent during Q2 (in line with expectations), which represents a 0.1 bp increase from previous 5.8% in Q1.

The participation rate fell to 69.3% vs 69.6% exp and 69.6% last (record high). As per the labour cost, both the quarterly and yearly readings came as expected at 0.5% and 1.8% respectively.

According to Statistics New Zealand: "Annual employment continues its period of growth, but quarterly growth falls behind working-age population growth."