New Zealand’s jobless rate rises to 4.6% in the second quarter By Reuters

WELLINGTON (Reuters) – New Zealand’s jobless rate rose to 4.6% in the second quarter while employment increased 0.4% from the prior quarter, data released by Statistics New Zealand on Wednesday showed.

Economists polled by Reuters had forecast a 4.7% unemployment rate and a 0.2% contraction in employment.

The job participation rate was 71.7% in the second-quarter. The result was slightly higher than economists’ forecast of 71.3%.

Statistics New Zealand data showed second-quarter seasonally adjusted private sector wages rose 0.8% versus the same period a year earlier. Wages were up 3.6% on the prior quarter.