Statistics New Zealand released its labour market data on late Tuesday. The unemployment rate in New Zealand increased to 5.7% in the fourth quarter from 5.4% in the third quarter, missing forecasts for a decline to 5.3%.
The participation rate rose to 69.7% in the fourth quarter from 69.0% in the previous three months, the highest rate since March 1986.
Employment increased 1.2% in the fourth quarter, beating expectations for 0.8% rise, after a 0.9% gain in the third quarter. The third quarter's was revised up from 0.8% increase.