Unemployment Rate Hits 11-Year High as Reserve Bank Warns of Gradual Decline

The Reserve Bank of New Zealand has warned that unemployment will only gradually decline. According to the latest figures from Stats NZ, the country's unemployment rate reached 5.6% in the last quarter, its highest point in almost 11 years.

This is a significant increase from previous quarters and has raised concerns about the job market. The Reserve Bank expects that getting a job will become slightly easier over time but notes that some individuals may continue to face significant challenges in finding employment.