New Zealand's jobless rate held just above historic lows while wage inflation hit a 14-year high, raising the prospect that the central bank might have to increase rates more aggressively than economists expect.
The unemployment rate rose to 3.3 per cent in the June quarter, Statistics New Zealand data showed on Wednesday, slightly higher than a forecast 3.1 per cent by economists but just above the historic low of 3.2 per cent in the previous quarter.
Wage growth was strong in the quarter with the private sector labour cost index (LCI) recording a 3.4 per cent lift on year, above a forecast
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