NZ unemployment at 9-year high, AS

Wed, Nov 4 11:44 PM

WELLINGTON, New Zealand (AP) New Zealand's unemployment rate reached a nine-year high of 6.5 percent in the three months to the end of September, government statistics released Thursday showed. The figure was up by 6 percent from the previous quarter, Statistics New Zealand said.

The actual number of unemployed rose 9 percent or 12,000 in the three months to September to reach 150,000, the highest level in 15 years. The September figure was above expectations, Social Development minister Paula Bennett said.

"New Zealand has come out of recession just but unemployment tends to lag behind an economy getting back on its feet," Bennett said. "Recent forecasts though have unemployment peaking closer to seven percent, instead of the eight percent forecast in the budget.

".

Inside News

Editor's picks