New Zealand Jobless Rate Unexpectedly Fell in First Quarter

By Bloomberg7 days ago

Bloomberg. A deserted marina in Auckland, New Zealand, on Monday, March 1, 2021. New Zealand Prime Minister Jacinda Ardern announced a lockdown for its largest city Auckland on Feb. 27 while authorities investigate a new case of Covid-19 in the community. Photographer: Brendon O'Hagan/Bloomberg

(Bloomberg) -- New Zealands unemployment rate unexpectedly fell in the first quarter as the economys recovery boosted business confidence and hiring.

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The jobless rate fell to 4.7% from 4.9% in the fourth quarter, Statistics New Zealand said Wednesday in Wellington. Economists expected 4.9%. Employment rose 0.6% from the previous three months, twice the 0.3% median forecast.

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