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Labour Cost Index (QoQ)

Statistics New Zealand releases employment data on a quarterly basis. The statistics shed a light on New Zealand’s labor market, including unemployment and employment rates, demand for labor and changes in wages and salaries. These employment indicators tend to have an impact on the country’s inflation and Reserve Bank of New Zealand’s (RBNZ) interest rate decision, eventually affecting the NZD. A better-than-expected print could turn out to be NZD bullish.

Most recent - Tuesday 5 August 2025 22:45

Previous
0.4%
Forecast
0.6%
Actual
0.6%

Trading range

Forecast history

The most recent announced value for Labour Cost Index (QoQ) was 0.6% against a forecast of 0.6%.

Past events

Date
Forecast
Actual
Tuesday 5 August 2025 22:45
0.6%
0.6%
Tuesday 6 May 2025 22:45
0.5%
0.4%
Tuesday 4 February 2025 21:45
0.6%
0.6%
Tuesday 5 November 2024 21:45
0.7%
0.6%
Tuesday 6 August 2024 22:45
0.8%
0.9%
Tuesday 30 April 2024 22:45
0.8%
0.8%
Tuesday 6 February 2024 21:45
0.8%
1%
Tuesday 31 October 2023 21:45
1%
0.8%
Tuesday 1 August 2023 22:45
1.2%
1.1%
Tuesday 2 May 2023 22:45
1.1%
0.9%
Tuesday 31 January 2023 21:45
1.3%
1.1%
Tuesday 1 November 2022 21:45
1.1%
1.1%

Economic context

Recent economic data has been broadly neutral for NZD. Other recent announcements which may affect the market's interpretation of the next Labour Cost Index (QoQ) result:

PreviousLatest
RBNZ Interest Rate DecisionBearish change3.25%3%
Producer Price Index - Output (QoQ)Bearish change2.1%0.6%
Business NZ PSIBullish change47.648.9
Business NZ PMIBullish change49.252.8
RBNZ Inflation Expectations (QoQ)Bullish change2.29%2.28%

About Labour Cost Index (QoQ)

Country:New Zealand
Currency:NZD
Source:Stats NZ
Category:Labor Market
Frequency:Quarterly

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