Unemployment at its highest in nearly 11 years

Unemployment rose to 5.6 percent in the June 2026 quarter, Stats NZ reported — the highest in nearly 11 years. About 171,000 people were looking for work, 13,000 more than a year earlier. That was higher than the Reserve Bank expected. The Reserve Bank sets interest rates to help manage the economy, and markets expect it to raise its main rate to 2.75 percent in September.