SYDNEY, Aug 5 (Reuters) – New Zealand’s jobless rate climbed to a decade-high in the June quarter as a sharp rise in the number of people looking for work outweighed gains in employment, according to data released by Statistics New Zealand on Wednesday.
The jobless rate rose to 5.6%, from an upwardly revised 5.4% the previous quarter, topping forecasts of 5.4%. Employment rose 0.5% in the quarter, also beating forecasts of 0.2% growth, while the participation rate jumped to 70.7%.
(Reporting by Wayne Cole; Editing by Tom Hogue)
