{"id":6869,"date":"2023-08-02T05:40:09","date_gmt":"2023-08-02T05:40:09","guid":{"rendered":"https:\/\/fayezalajmi-4x.com\/?p=6869"},"modified":"2023-08-02T05:40:09","modified_gmt":"2023-08-02T05:40:09","slug":"unemployment-rises-in-the-second-quarter-in-new-zealand-and-the-wage-rate-slows","status":"publish","type":"post","link":"https:\/\/fayezalajmi-4x.com\/en\/unemployment-rises-in-the-second-quarter-in-new-zealand-and-the-wage-rate-slows\/","title":{"rendered":"Unemployment rises in the second quarter in New Zealand and the wage rate slows"},"content":{"rendered":"<p><\/p>\n<div class=\"lRu31\" style=\"text-align: left;\"><span class=\"HwtZe\" lang=\"en\"><span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">A report issued by Statistics New Zealand in the Asian session this morning, Wednesday, August 2nd, showed that the unemployment rate rose to 3.6% in the second quarter ending in June, from 3.4% in the first quarter, while expectations had indicated a rise to 3.5%.<\/span><\/span> <\/span><\/div>\n<div class=\"lRu31\" style=\"text-align: left;\"><span class=\"HwtZe\" lang=\"en\"><span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">On the other hand, the underemployment rate reached 9.8% from 9.1%, the employment rate reached 69.8% from 69.6%, while the annual wage inflation reached 4.3%, down from 4.5%, which was the fastest rate since the data was published for the first time in 1993.<\/span><\/span><\/span><\/div>\n<div class=\"lRu31\" style=\"text-align: left;\"><span class=\"HwtZe\" lang=\"en\"> <span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">Quarterly employment growth was 1% in the second quarter, compared to analysts&#8217; expectations of 0.6%, compared to 1.1% in the first quarter, while annual growth was 4%, compared to 2.5% in the first quarter, with participation rising to 72.4% from 72%.<\/span><\/span> <\/span><\/div>\n<div class=\"lRu31\" style=\"text-align: left;\"><span class=\"HwtZe\" lang=\"en\"><span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">The slowdown in wage growth shows that the labor market has finally begun to weaken, which eases the pressure on inflation after the strong increases in interest rates from the Reserve Bank of New Zealand, and thus may support the continuation of the bank&#8217;s cessation of tightening monetary policy.<\/span><\/span><\/span><\/div>\n<div class=\"lRu31\" style=\"text-align: left;\"><span class=\"HwtZe\" lang=\"en\"> <span class=\"jCAhz ChMk0b\"><span class=\"ryNqvb\">The New Zealand dollar retreated by about 60 points after announcing the numbers, to trade at 0.6105 levels against the US dollar, its lowest level in a month.<\/span><\/span><\/span><\/div>\n<div class=\"UdTY9 WdefRb\" style=\"text-align: left;\" aria-hidden=\"true\" data-location=\"2\">\u0634<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>A report issued by Statistics New Zealand in the Asian session this morning, Wednesday, August 2nd, showed that the unemployment rate rose to 3.6% in the second quarter ending in June, from 3.4% in the first quarter, while expectations had indicated a rise to 3.5%. On the other hand, the underemployment rate reached 9.8% from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-6869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u0627\u0644\u0628\u0637\u0627\u0644\u0629 \u062a\u0631\u062a\u0641\u0639 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u062b\u0627\u0646\u064a \u0641\u064a \u0646\u064a\u0648\u0632\u0644\u0646\u062f\u0627 \u0648\u0645\u0639\u062f\u0644 \u0627\u0644\u0627\u062c\u0648\u0631 \u064a\u062a\u0628\u0627\u0637\u0623<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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