Official employment data hits once a quarter from NZ. Q3 was a good report, here is Q4:
Unemployment rate 4.3% - a substantial miss
- expected 4.1%, prior was 3.9%
Employment change0.1 % q/q - miss
- expected 0.3%, prior was 1.1%
Employment change 2.3% y/y - miss
- expected 2.6%, prior was 2.8%
Participation rate 70.9
- expected 71.1%, prior was 71.1%
Average hourly earnings 1.0% beat
- expected 0.8%, prior was 1.4%
Private wages including overtime 0.5%
- expected 0.6%, prior was 0.5%
Private wages excluding overtime 0.5%
- expected 0.6%, prior was 0.5%
NZD marked down immediately. I'll follow up separately