New Zealand Q2 Unemployment rate 4.0% (vs. expected 5.6%)

Author: Eamonn Sheridan | Category: News

New Zealand jobs report for Q2 2020

Unemployment rate 4.0% for a stonkingly huge beat 

  • expected 5.6%, prior 4.2%

Employment change -0.4% q/q 

  • expected -2.0% q/q, prior +0.7%

Employment change +1.2% y/y

  • expected -1.2% y/y, prior 1.6%

Participation rate 69.7%

  • expected 69.7%, prior 70.4%

Private wages excluding overtime +0.2% q/q

  • expected 0.4% q/q, prior 0.3%

Private wages including overtime +0.2% q/q

  • expected 0.4% q/q, prior 0.3%

Average hourly earnings +0.4% q/q

  • expected 0.5% q/q, prior 1.4%

More:
  • Hours worked -10.3% (record fall)
  • Underutilisation 12.0& (prior 10.4%), largest rise on record
  • Number of people not in the Labour Force rose 37,000

NZD popped above its earlier high level of circa 0.6625
nzd q2 jobs

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