New Zealand employment report, Unemployment rate 5.1% vs. 5.3% expected

January – March employment data from New Zealand

Unemployment Rate 5.1%

• expected 5.3%, prior 5.1%

Employment Change +0.1% q/q

• expected +0.1%, prior –0.1%

Employment Change -0.7% y/y

• expected –0.5%, prior –1.1%

Participation Rate 70.8%

• expected 71.0%, prior 71.0%

Private Wages excluding overtime +0.4% q/q

• expected +0.5%, prior +0.6%

Private wages including overtime +0.4% q/q

• expected +0.5%, prior +0.6%

Average Hourly Earnings +0.2% q/q

• prior +1.3%

Earlier from NZ:

• RBNZ says risks to the financial system have increased over the past six months

All the local info from NZ is being swampe by the bigger news, of course:

• “Sources” say US’ Bessent and Greer to meet with China rep on Economic Matters this week
• Australian dollar higher on talk of Bessent/Greer/ China Vice Premier He Lifeng meeting

• China confirms Vice Premier He Lifeng to talk trade with Bessent this week

• China’ s Ministry of Commerce says is has “decided to agree to engage with the US”

This article was written by Eamonn Sheridan at www.forexlive.com.