New Zealand jobless rate hits 11-year high days before election

· Economy · New Zealand

New Zealand's jobless rate unexpectedly rose to a fresh 11-year high in the third quarter, adding to pressure on the government just three days before Saturday's general election. The ruling National party and centre-left opposition Labour are neck-and-neck in the final days of the campaign, according to the latest opinion polling. Living costs, jobs and housing are shaping the race. The weak labour data gives the opposition fresh ammunition on the economy at a moment when voters are already focused on affordability.

Why it matters：A weakening labour market in a small open economy at election time shows how inflation-fighting rate hikes are now hitting jobs, a pattern likely to shape central bank choices elsewhere.

Key points

  • The jobless rate hit an 11-year high in the third quarter.
  • National and Labour are tied in the latest poll before Saturday's vote.
  • Affordability, jobs and housing dominate the campaign.

Sources (original reporting)

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