New Zealand's unemployment rate shoots up to six per cent

There has been disappointing news on the economic front today with the official unemployment rate climbing from 5.9 to six percent in the three months to September.

The unemployment rate has increased by one per cent. Source: 1 NEWS

The increase means there are now 151,000 people classed as unemployed; that was an increase of 3000 over the three months.

During the quarter there were also 11,000 fewer Kiwis employed, as the slowing economy failed to create enough new jobs to meet rising population growth.