The NZD sits higher, around 0.8380 this morning. Yesterday was all about the NZ employment report. This showed the economic upswing is starting to show up in the labour market. The Household Labour Force Survey showed a 1.2% quarter gain in official employment. That is strong growth and takes the annual increase in employment to 2.4%. Labour demand was strong enough to not only draw on people previously outside the labour force (the participation rate rose to 68.6%) but also edge the unemployment rate down to 6.2%, from 6.4% previously
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BNZ