FX.co ★ New Zealand Unemployment Rate Rises to 5.7%

New Zealand’s seasonally adjusted unemployment rate inched up to 5.7% in the third quarter of 2026 from 5.6% in the previous quarter, coming in above market expectations of 5.5%. The number of unemployed people rose to 174,000, while the underutilisation rate was steady at 13.8%. The employment rate was 66.4%, with most employed people working as paid employees in permanent positions. Over the quarter, the proportion of part-time workers increased, contributing to declines in both usual and actual hours worked. Annual wage inflation was 2.1%, and average ordinary-time hourly earnings were NZ$44.86.