New Zealand jobless rate rises less than forecast

Wage pressures: The skyline of Auckland is seen at sunset. New Zealand’s annual inflation rate fell sharply in the third quarter, returning to the central bank’s 1% to 3% target band for the first time in more than three years. — Reuters

WELLINGTON: New Zealand’s jobless rate rose less than forecast in the third quarter as fewer people sought work in a sluggish economy.

Unemployment climbed to 4.8% from 4.6% in the second quarter, Statistics New Zealand said yesterday in Wellington. Economists expected 5%.