Created
: 2024.11.06
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
New Zealand Unemployment Rate rises to 4.8% in Q3 versus 5.0% expected
World FX news
Breaking news
New Zealand Unemployment Rate rises to 4.8% in Q3 versus 5.0% expected
New
2024.11.06 07:50
2024.11.06 07:50
2024.11.06 07:50
The New Zealand Unemployment Rate in the third quarter (Q3) climbed to 4.8% from 4.6% in the second quarter, according to data published by Statistics New Zealand on Wednesday. The market consensus was a 5.0% print in the reported period.
Additionally, the Employment Change decreased by 0.5% in the third quarter from a 0.4% increase in the previous reading. This figure came in weaker than the expectation of a 0.4% decrease.
Market reaction to New Zealand employment report
At the time of writing, NZD/USD is trading 0.17% higher on the day at 0.6005.
Employment FAQs
Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency. Moreover, a very tight labor market - a situation in which there is a shortage of workers to fill open positions - can also have implications on inflation levels and thus monetary policy as low labor supply and high demand leads to higher wages.
The pace at which salaries are growing in an economy is key for policymakers. High wage growth means that households have more money to spend, usually leading to price increases in consumer goods. In contrast to more volatile sources of inflation such as energy prices, wage growth is seen as a key component of underlying and persisting inflation as salary increases are unlikely to be undone. Central banks around the world pay close attention to wage growth data when deciding on monetary policy.
The weight that each central bank assigns to labor market conditions depends on its objectives. Some central banks explicitly have mandates related to the labor market beyond controlling inflation levels. The US Federal Reserve (Fed), for example, has the dual mandate of promoting maximum employment and stable prices. Meanwhile, the European Central Bank's (ECB) sole mandate is to keep inflation under control. Still, and despite whatever mandates they have, labor market conditions are an important factor for policymakers given its significance as a gauge of the health of the economy and their direct relationship to inflation.
Last updated
: 2024.11.06
Related articles
Japanese Yen slumps to 153.00 against USD after initial US election results
16 minutes agoNZD/USD attracts some sellers below 0.6000 as Trump trades climb
36 minutes agoBreaking: US Election 2024: Exit polls show a slim Trump's advantage
2024.11.06 09:14BoC Meeting minutes: Central bank feels upside pressure on inflation will continue to decline
2024.11.06 09:12BoJ Minutes: Central bank will continue rate hikes if economic and price forecasts meet
2024.11.06 09:03USD/CAD softens below 1.3850 as traders brace for US election results
2024.11.06 08:15
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Japanese Yen slumps to 153.00 against USD after initial US election results
The Japanese Yen (JPY) touches a two-week high against its American counterpart during the Asian session on Wednesday after Bank of Japan (BoJ) minutes showed that the central bank will continue to hike interest rates if economic and price forecasts meet.
New
2024.11.06 10:09NZD/USD attracts some sellers below 0.6000 as Trump trades climb
The NZD/USD pair attracts some sellers to around 0.5970 on Wednesday during the early Asian session.
New
2024.11.06 09:49Breaking: US Election 2024: Exit polls show a slim Trump's advantage
A historical United States presidential election is about to come to an end.
New
2024.11.06 09:14BoC Meeting minutes: Central bank feels upside pressure on inflation will continue to decline
According to the Bank of Canada's (BoC) minutes from the October 2024 meeting that was released Wednesday, the governing council felt upside pressures on inflation will continue to decline, so the monetary policy did not need to be as restrictive.
New
2024.11.06 09:12BoJ Minutes: Central bank will continue rate hikes if economic and price forecasts meet
The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Wednesday, per the BoJ Minutes of the September meeting.
New
2024.11.06 09:03USD/CAD softens below 1.3850 as traders brace for US election results
The USD/CAD pair weakens to near 1.3825 during the early Asian session on Wednesday.
New
2024.11.06 08:15EUR/USD rallies on Greenback weakness heading into US presidential election
EUR/USD benefited from a broad-market decline in the US Dollar as global markets brace for early polling outcomes from the US presidential election that kicked off on Tuesday.
New
2024.11.06 08:02New Zealand Unemployment Rate rises to 4.8% in Q3 versus 5.0% expected
The New Zealand Unemployment Rate in the third quarter (Q3) climbed to 4.8% from 4.6% in the second quarter, according to data published by Statistics New Zealand on Wednesday.
New
2024.11.06 07:49GBP/USD pushes back above 1.30 as the US heads into election territory
GBP/USD found the gas pedal on Tuesday, ramping up another two-thirds of a percent and clawing back above the 1.3000 handle as markets brace for what is likely to be a messy outcome from the US presidential election.
New
2024.11.06 07:49US Election 2024: Exit polls awaited as voting about to end
American voters have little time left to cast their votes as polls will start closing at 19:00 EST or 00:00 GMT.
New
2024.11.06 07:30Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
