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NEW ZEALAND

From Times Staff and Wire Reports

Unemployment Falls to Four-Year Low: New Zealand’s unemployment rate fell to 8.4% at the end of June from 9.0% three months earlier, revised from 9.1%, the government statistician said. Unemployment is now at its lowest level since September, 1990. The data are adjusted to remove seasonal fluctuations. “It (the drop) does sound good. The politicians will probably use it to their benefit,” said Sean Newman, an economist at Australia & New Zealand Bank. “It shows the economy keeps growing.” The New Zealand economy expanded 5.3% in the year ended March 31.


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