Unemployment rate rises to 5.7 per cent
Unemployment rose to its highest level in nearly 11 years as the economy shed jobs, and there are signs some people may have stopped looking for work. Stats NZ said the unemployment rate was 5.7 per cent in the three months ended September, up from 5.6 percent in the previous quarter. A total of 174,000 people were unemployed, a rise of 3000 on the previous quarter and 14,000 higher than a year ago. Gyles Beckford is RNZ economics correspondent.