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Unemployment rate falls to near eight-year low

New Zealand's unemployment rate fell more than expected in the third quarter to drop to 4.9 per cent - the lowest rate since last 2008.

The jobless rate declined from a revised 5.0 per cent in the June quarter, according to Stats NZ taking it to its lowest point since the December quarter nearly eight years ago.

There were 3,000 fewer people unemployed than in the previous quarter and 10,000 fewer over the year.

"The number of people employed in New Zealand was up 35,000, or 1.4 per cent, in the September 2016 quarter," labour and income statistics manager Mark Gordon said.

"This strong growth in employment, coupled with fewer unemployed people, pushed the unemployment rate below 5.0 per cent for the first time in nearly eight years."

Man with briefcase Source: 1 NEWS


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