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NZ jobless rate climbs to 6.7pc in Q1

New Zealand’s unemployment rate unexpectedly rose to the highest since 2010 as more people unsuccessfully sought work, adding to the case for the central bank to keep interest rates at a record low this year.

The jobless rate rose to 6.7 percent in the first quarter from a revised 6.4 percent in the three months through December, Statistics New Zealand said on Thursday. The rate exceeded the 6.3 percent median forecast in a Bloomberg News survey of 10 economists and was the highest since the fourth quarter of 2010.