The jobless rate in New Zealand came in at 5.1 percent in the second quarter of 2016, Statistics New Zealand said on Wednesday.
That was beneath forecasts for 5.3 percent and down from the downwardly revised 5.2 percent in the previous three months (originally 5.5 percent).
The employment change was 4.5 percent on year to 2.46 million, exceeding expectations for 2.3 percent and up from 2.0 percent in the three months prior.
On a quarterly basis, the employment change was 2.4 percent – also topping forecasts for 0.6 percent after gaining 1.3 percent in Q1.
The participation rate was 69.7 percent – topping forecasts for 68.8 percent and up from 69.0 percent in the first quarter.
The number of unemployed persons was down 1.0 percent on quarter and 4.6 percent on year to 131,000.
Overall wage inflation was up 0.4 percent on quarter and 1.5 percent on year, while average hourly earnings added 0.5 percent on quarter and 2.1 percent on year.
Also on Wednesday, the statistics bureau said that output producer prices in New Zealand were up 0.2 percent on quarter in the second quarter of 2016, following the 0.2 percent decline in the previous three months.
On a yearly basis, output producer prices advanced 0.5 percent, accelerating from 0.1 percent in the three months prior.
Input producer prices gained 0.9 percent on quarter and 0.3 percent on year after slipping 1.0 percent on quarter and 0.9 percent on year in Q1.
Q2 fuel price rise contributed to higher input and output prices in the mining industry. Higher fuel prices also led to higher input prices for other industries, including transport, construction, and farming.
Output prices for the electricity and gas supply industry rose 1.9 percent in the June 2016 quarter, due to higher retail electricity prices. The input prices for this industry fell 0.3 percent, influenced by lower electricity generation prices.
by RTT Staff Writer
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