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NZ Unemployment Hits 5.6% as RBNZ Lifts Rate to 2.5%

8/5/2026

32 6 Full Breakdown

Summary

Story summary

New Zealand’s unemployment rate rose to 5.6% in the June quarter, the highest level since late 2015.
Labour-force participation reached 70.7%, the highest in more than a year.
The under-utilisation rate increased to 13.8% from 12.9%.
Employment grew 0.5% in the quarter, beating forecasts.
The Reserve Bank of New Zealand raised its official cash rate to 2.5% in July, with markets pricing a 90% chance of a further hike to 2.75% on September 2.

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Story summary

New Zealand’s unemployment rate rose to 5.6% in the June quarter, the highest level since late 2015.
Labour-force participation reached 70.7%, the highest in more than a year.
The under-utilisation rate increased to 13.8% from 12.9%.
Employment grew 0.5% in the quarter, beating forecasts.
The Reserve Bank of New Zealand raised its official cash rate to 2.5% in July, with markets pricing a 90% chance of a further hike to 2.75% on September 2.