NZ unemployment jump whacks Australian dollar again

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NZ Stats surprised with rising unemployment this morning versus expected flat:

  • Unemployment rate rose to 4.3 percent
  • Underutilisation rate rose to 12.1 percent
  • Employment rate fell to 67.8 percent
  • Filled jobs rose 1.3 percent
  • Average ordinary time hourly earnings rose to $31.63
  • Wage rates increased 1.9 percent annually.

The NZD took a pounding dragging the AUD to the brink of the 70s once more:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.