NZ: Employment data raised more questions than answers - TDS

Research Team at TDS, notes that the NZ’s Q2 employment came in at +2.4%/qtr and participation rate a toppy 69.7% raised more questions than answers, then StatsNZ said new methodology means these estimates are not comparable to old estimates. 

Key Quotes

“Anyway, unemployment rate 5.1% is more or less what the RBNZ said it expected in the MPS at “steady at 5.2%” and with wages so weak this cannot be an inflationary labour market, so cuts remain on the table (OIS and TD for November).”