01.11.201701:14:00UTC+00New Zealand Q3 Jobless Rate Lowest Since Late 2008

New Zealand's unemployment rate decreased more-than-expected in the three months ended September to the lowest level in nearly nine years, data from Statistics New Zealand showed Wednesday.

The seasonally adjusted jobless rate fell to 4.6 percent in the third quarter from 4.8 percent in the June quarter. Economists had expected the rate to drop to 4.7 percent.

Moreover, this was the lowest unemployment rate since the fourth quarter of 2008, when it was 4.4 percent.

The labor force participation rate increased to 71.1 percent in the September quarter, as 54,000 more people entered the labor force.

The employment rate was 67.8 percent, up from 66.7 percent in the previous quarter.