New Zealand’s unemployment rate rose to 5.7% in the third quarter of 2026, up from 5.6% in the second quarter and above a market consensus of 5.5%, Statistics New Zealand said on Wednesday.
Employment and participation slip
Employment change came in at -0.1% in the third quarter, reversing the 0.5% gain recorded in the second quarter and falling short of a consensus forecast of 0.4%. The participation rate also eased, slipping to 70.4% from 70.7% in the prior quarter.
The unemployment rate missed expectations. Employment change missed expectations too.
Currency reaction
The New Zealand dollar found sellers after the release. NZD/USD traded 0.61% lower on the day, changing hands at 0.5583.
In the United States, the unemployment rate stood at 4.2% in September, a separate reading unrelated to Wednesday’s New Zealand figures.
Source: Statistics New Zealand | Data: FRED — St. Louis Fed
