News · CafeF

The 'Best Country in the World': Record 174,000 Jobless, High Inflation, Ultra-Slow Wage Growth, and 75,000 People Leaving in One Year

New Zealand's unemployment rate rose to 5.7% in the third quarter of 2026, its highest since 2015, with 174,000 people unemployed, while employment fell by about 4,000 from the previous quarter. Wage growth slowed to 2% from 2.1%, while inflation was 3.7%, above the central bank's 1–3% target range. The central bank held its official cash rate at 2.75% after two earlier hikes, saying it needs time to assess their impact, though further hikes remain possible. Nearly 75,000 people left New Zealand last year, 58% of them for Australia, where GDP per capita is about USD 64,400 compared with about USD 48,000 in New Zealand.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Quốc gia tuyệt vời nhất thế giới: Kỷ lục 174.000 người thất nghiệp, lạm phát cao, lương tăng siêu chậm, 75.000 người chán ngán rời đất nước chỉ trong một năm

Read the original on CafeF ↗

Keywords

unemploymentinflationinterest ratesNew Zealand

Open a keyword to see other news on the same topic.

Related news

  • Inflation data shows Luxon Government has failed on the cost of living NZCTU – LiveNews . co . nz

    NZCTU president Sandra Grey says StatsNZ figures show consumer prices rose 3.7% in the year to the September quarter, with petrol up 19.1% and household energy up 9.4%. Food prices rose 2.1% annually and 7.6% over three years, with bread up 17.3%, milk 27.9%, and beef and lamb more than 30% since September 2023. The union says 31% of households are food insecure and that three years of real minimum wage cuts have left full-time workers more than $2,000 a year worse off. It also cites unemployment at 5.6% and underutilisation at 13.8%, and warns that the recent fuel price surge will push inflation back up in the December quarter and that Reserve Bank rate rises will hurt struggling households.

    livenews.co.nz·• NZD/USDinflationcost of livingNew Zealand
  • Inflation Data Shows Luxon Government Failing on Cost of Living

    Consumer prices rose 3.7% in the year to the September quarter according to Stats NZ, with petrol up 19.1% and household energy up 9.4%. Sandra Grey, President of the New Zealand Council of Trade Unions, says essentials are still climbing: milk is up 27.9% and bread 17.3% since September 2023, and 31% of households are food insecure. She argues wages have lagged prices, hitting low-income households hardest, and that the minimum wage has been cut in real terms three years running, leaving full-time workers more than $2,000 a year worse off than if it had kept pace with inflation. Unemployment is 5.6% and underutilisation 13.8%, and Grey warns the recent surge in petrol and diesel prices will push inflation back up in the December quarter. She says the Luxon Government has failed to get the cost of living under control.

    miragenews.com·inflationNew Zealandcost of living
  • Petrol Prices Fuel Inflation - So Is An Interest Rate Rise The Right Move ?

    New Zealand consumer prices rose 0.7% in the September quarter and 3.7% over the year, with fuel prices 19% higher than a year earlier. Non-tradeable, or domestically influenced, prices rose 3.3%, their slowest pace since early 2021, while intentionally influenced prices rose 4.3%. Kiwibank chief economist Jarrod Kerr said fuel costs raised the question of another OCR increase, with the rate due for review next week and probably set to rise 25 basis points, and noted businesses have yet to pass on higher costs. Infometrics' Gareth Kiernan said there was a strong case for lifting the OCR from 2.75% to neutral levels of 3–3.25%, while BNZ's Mike Jones said 59.7% of items rose in price, the highest since mid-2023, and expects a rise next week. ASB expects OCR increases in October and December and does not expect annual CPI inflation to fall below 3% until the end of 2027.

    scoop.co.nz·▲ NZD/USDinflationinterest ratesfuel prices
  • New Zealand Inflation Cools to 3.7% While Price Gains Stay Broad

    New Zealand's consumer price index rose 3.7% in the year to the September 2026 quarter, down from 4.1% in the June quarter but still above the Reserve Bank of New Zealand's 1% to 3% target. Prices rose 0.7% in the September quarter after a 1.5% rise in June, slightly below the 3.8% annual and 0.8% quarterly figures expected in a Reuters poll. Price increases remained broad, with 85.5% of items more expensive over 12 months and 54.9% up more than 3%, compared with 38.5% in the 12 months to June. Petrol, up 19.1%, was the largest upward contributor and electricity rose 9.3%, while the RBNZ's official cash rate stands at 2.75% after a 25-basis-point increase on September 2.

    econotimes.com·▼ NZD/USDinflationNew Zealandinterest rates
  • NZ sharemarket slips as investors brace for OCR hike despite lower inflation – Market close

    Headline inflation of 3.7% came in below the RBNZ's expectations, but tradable inflation of 4.3% and non-tradable inflation of 3.3% were hotter than expected, largely due to petrol prices, with Brent crude trading at US$110.8 a barrel. The analyst said an OCR hike looks like a done deal but should be a closer call, as the economy still has spare capacity. Fisher & Paykel Healthcare fell 55c to $48.88 after disclosing a cyber incident involving two employee email accounts, though it said there was no evidence that the system maintaining patient data was compromised. Solar farm developer Lodestone Energy finished its first day as a listed company up 3c after raising $75 million in its IPO, while Scott Technology rose 4.69% after reporting record revenue of $294.1 million.

    nzherald.co.nz·▲ NZD/USDinflationinterest ratesNZDUSD
  • First Impressions : NZ Consumers Price Index Q3 2026 and Change of OCR Callactionforex.com·• NZD/USDinflationinterest ratesNew Zealand

Related markets

Currencies →Gold →

Latest news

  • Stocks Unexpectedly Surge 33 Points: What's Happening?

    VN-Index reversed from a weak open to close up 33.4 points (+1.97%) at 1,733.02 on Nov 4, recovering the 1,700-point psychological level lost after a string of losing sessions. Nguyễn Thế Minh of An Bình Securities (ABS) said the U.S. mid-term congressional election on Nov 3, along with a weaker U.S. dollar and U.S. Treasury yields, could ease currency pressure on emerging markets like Vietnam. The same day, the State Bank of Vietnam announced a VND liquidity plan via 182-day USD/VND FX swaps of up to USD 2 billion, to be executed on Nov 6, which could initially inject up to about VND 48,800 billion; the tenor is longer than the 7-day swap in September. MB Securities (MBS) noted that November has risen in 70% of the past 10 years, averaging 3.8% gains, but many stocks have broken below October's lows even as large caps supported the index. Minh said a sustainable rally needs improved cash flow and continued gains in leading stocks.

    CafeF·▲ VNINDEXVNINDEXexchange ratesUS dollar
  • 5,364 Russian Companies Declared Bankrupt

    According to TASS, Russian courts opened bankruptcy proceedings against 5,364 companies in the first nine months of 2026, nearly one-third below the 7,850-case average for the same period in 2012–2025. In Q3 2026 alone, courts declared 1,818 companies bankrupt, down 4.5% from the previous quarter but up 18.5% from a year earlier. Over this period, only 2025 (4,736 cases) and 2023 (5,067 cases) were lower than 2026, while the peak was 9,705 cases in the first nine months of 2015. Courts also opened 49 external management and financial recovery procedures, 0.9% of all procedures, compared with 39 (0.8%) in the same period of 2025.

    CafeF·Russiabankruptcybusinesses
  • Prime Minister: State Budget Must Share Burden with People and Businesses

    In the conclusion of the regular October government meeting on the morning of Nov 4, Prime Minister Lê Minh Hưng said the state budget must share the burden with the economy, people and businesses, even though fuel tax cuts strongly affect budget revenue, in order to curb inflation in the last two months of the year. From Nov 1, average electricity prices fell 2% to VND 2,159.9 per kWh until end-March 2027, and the special consumption tax on gasoline was cut to 0% until March 31, 2027, lowering gasoline prices by VND 1,575–1,804 per liter, with a budget revenue shortfall expected to exceed VND 7,672 billion. Average CPI for the first 10 months rose 4.57% year on year, above the full-year target of about 4.5%, and the Ministry of Finance estimated these measures would lower the November CPI increase by about 0.5 percentage points. Budget revenue for the first 10 months reached nearly VND 2.45 quadrillion, equal to 96.4% of the annual estimate.

    VnExpress·▲ VNINDEXinflationbudgetfuel prices
  • Foreign Investors Ease Selling as VN-Index Breaks Out; VND 350 Billion Goes to 2 VN30 Stocks

    Strong gains spread across sectors, led by securities, banks and real estate, pushing VN-Index up more than 33 points to 1,733 points, with HoSE matched value reaching about VND 15,400 billion. Foreign net selling eased sharply to about VND 70 billion across the market, comprising net selling of VND 66 billion on HoSE, net buying of VND 7 billion on HNX and net selling of VND 11 billion on UPCoM. On HoSE, foreign investors net bought the most in FPT (about VND 183 billion), MSN (about VND 175 billion) and CTG (about VND 82 billion), while net selling was led by MBB (nearly VND 199 billion), followed by ACB (VND 93 billion) and BSR (VND 83 billion).

    CafeF·▼ VNINDEXVNINDEXforeign investorsVN30
  • Deputy Governor: New Loan Rates Down 0.2–0.5%

    Interest rates on new loans in late October fell 0.2–0.5 percentage points from early in the month, according to Deputy Governor Phạm Thanh Hà at the government press conference on Nov 4. The State Bank of Vietnam asked credit institutions to cut deposit rates by 0.5–1% a year for new deposits with tenors of 6 months or more, and to cut lending rates for production, business and priority sectors by 1.5–2%. State-owned commercial banks and foreign banks commonly cut deposit rates by 0.5%, joint-stock banks cut 0.5–0.7%, and over 20 banks announced preferential credit packages with reductions of 0.5–2%. The regulator will keep pushing cuts to both deposit and lending rates and will address institutions that fail to comply. As of Oct 26, outstanding credit across the economy reached over VND 20.8 million billion, up 11.94% from end-2025.

    VnExpress·▲ VNINDEXinterest ratescreditState Bank of Vietnam
  • European shares gain on Novo’s results; markets weigh U.S. midterms

    European shares edged higher on Wednesday, led by Novo Nordisk, which jumped nearly 6% after reporting third-quarter adjusted operating profit above expectations and raising its full-year sales and profit forecasts. The pan-European STOXX 600 rose 0.3%, Germany's DAX gained 0.25%, France's CAC 40 rose 0.3% and London's FTSE 100 gained 0.4%. Sentiment was shaped by early U.S. midterm results pointing to significant Democratic gains in the House and a tightly contested Senate, which could limit Trump's ability to unilaterally impose aggressive tariffs and roll back clean-energy subsidies, while adding uncertainty over U.S. fiscal support for NATO and Ukrainian defense. European tech shares recovered part of their earlier steep losses after robust AMD results eased concerns over the sustainability of AI capital spending. ASML, ASM International, STMicroelectronics, BE Semiconductor and Prosus gained between 0.3% and 2%, while markets awaited the euro zone's flash HICP inflation data.

    Yahoo Finance·• SPYmidterm electionsDonald TrumpEurope

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.