NZ First Impressions: Labour Market Statistics

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<p>Unemployment rose 0.3ppts to 3.9% in the September quarter, in line with our expectations. Private sector wage growth remained high by historical norms, but shows clear signs of easing. Unemployment rate: 3.9% (prev: 3.6%, Westpac f/c: 3.9%, RBNZ f/c 3.8%) Employment change: -0.2% (prev: +1.0%, Westpac f/c: +0.4%, RBNZ f/c +0.3%) Labour costs (private sector): +0.9% (prev: 1.1%, [&#8230;]</p>
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