New Zealand unemployment rate drops

15:10, November 04, 2010      

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New Zealand's unemployment rate fell sharply in the September 2010 quarter, Statistics New Zealand said on Thursday.

The figures released on Thursday show 150,000 people, or 6.4 percent of the workforce, were out of work at the end of September.

That's a fall of 10,000 from the number unable to find a job at the end of the June. The unemployment rate in the June quarter was 6.9 percent.

The male unemployment rate fell to 5.7 percent during the September 2010 quarter, from 6.9 percent in the June 2010 quarter. But the figure for women rose from 6.8 percent to 7.2 percent -- its highest since December 1998.

During the quarter, working Hours rose, as did the labour force participation rate.

It is believed that it is good news for the labour market, and jobs are gradually being created.



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