New Zealand Jobless Rate Holds Steady as Fewer People Seek Work
New Zealand's jobless rate unexpectedly held steady in the first quarter as fewer people sought work in a sluggish economy.
Unemployment was unchanged from the fourth quarter at 5.1%, Statistics New Zealand said Wednesday in Wellington. Economists and the Reserve Bank expected an increase to 5.3%. Employment rose 0.1% from the previous three months, matching estimates, while wage inflation slowed.
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