Volatile employment figures disappoint

Key highlights The NZ labour market contracted and unemployment rate unexpectedly rose to 6.8% in Q4. The weakness in the labour market at the end of 2010 adds to a growing list of disappointing economic data. The data reinforces the need to keep interest rates low for the foreseeable future.     Report prepared by: Christina Leung ASB Economist Phone: +64 9 369 4421 Fax: +64 9 302 0992