NZ Q4 2016 jobs review: Upstaged by supply - ANZ

Economists at ANZ provide their afterthoughts on the release of New Zealand’s labour market report for the fourth quarter 2016.

Key Quotes:

“The big news in today’s figures is the surprisingly lift in the unemployment rate by 0.3%pts to 5.2%. Together with a 0.6%pt increase in the underutilization rate to 12.8% (not seasonally adjusted) the figures are clearly at odds with business surveys and anecdote that suggest that the labour market has continued to tighten.”