The New Zealand Unemployment Rate in the third quarter (Q3) climbed to 3.9% from 3.6% in the second quarter, according to data published by Statistics New Zealand on Wednesday. The market consensus was a 3.9% print in the reported period.

Additionally, the Employment Change dropped to 0.2% in the third quarter from a 1% rise in the previous reading. This figure came in worse than the expectation of a 0.4% rise. 

Market reaction

Following the key New Zealand (NZ) Q3 employment report, the NZD/USD pair is trading lower on the day at 0.5809, as of writing.