While employment growth remained decent in the fourth quarter, a sharp increase in the labour force meant that the unemployment rate jumped back above 5.0%. This won’t worry the RBNZ too much, but the chances of it raising interest rates this year are very slim since wage growth will remain stubbornly weak.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services