Upbeat NZ labour data: jobless rate declines as participation rises

FXstreet.com (Barcelona) - New Zealand employment change (Q3) came at +1.2% vs 0.6% expected and 0.4% last, with the unemployment rate (Q3) at 6.2% vs 6.3% exp and 6.4% last. Meanwhile, the labour cost index (QoQ) (Q3) came at +0.4% vs 0.5% exp and 0.4% prior, with labour cost index (YoY) (Q3) at +1.6% vs 1.7% exp and 1.7% last. In a positive note too, the participation rate came at 68.6% vs 68.1% expected and 68% prior.