NZ jobless rate hits record low

Insurance Business Magazine article.

New Zealand’s unemployment rate fell to a record low in the fourth quarter amid a labour shortage, adding to signs the economy is overheating.

The jobless rate dropped to 3.2% from a revised 3.3% in the third quarter, the lowest since records began in 1986, Statistics New Zealand data showed Wednesday in Wellington. Economists expected 3.3%. Still, employment growth failed to meet expectations, rising just 0.1% from the previous three months.

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