New Zealand issue an official employment report only 4 times a year

This for the final quarter of last year

Unemployment rate 4.0% … looks good BUT there is zero q/q employment growth and a decline in the participation rate …. so, these negate the good headline

  • expected 4.2%, prior 4.2%

Employment change 0.0% q/q

  • expected 0.3%, prior 0.3%

Employment change 1.0% y/y

  • expected 1.2%, prior 1.0%

Participation rate 70.1%

  • expected 70.4%, prior 70.4%

Private wages excluding overtime 0.6% q/q

  • expected 0.5%, prior 0.6%

Private wages including overtime 0.6% q/q

  • expected 0.5% q/q, prior 0.6%

Average hourly earnings 0.1% q/q

  • expected 0.5%, prior 0.6%