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.