Today, the Statistics New Zealand published the figures for the Household Labor Force Survey, which is for the September quarter. They showed that the rate of the unemployment have fallen from 6.9 percent to 6.4 percent in the last three months. Also the employment which is seasonally adjusted has rose to 1percent that is to 2.19 million last quarter.
During the same time, the unemployment had fallen to 6.1 percent. Economists are skeptical about the extent of improvement in labor market but believe that the data is going in right direction for the economy about the job situation.
Mr. Philips Borkin, who is working as economist at Goldman Sachs said that he has some doubts about the figures of household survey, which has shown some unreliability in previous months, is showing true situation of the labor market.
He further said that it is common concern among the economists. He further said the rate of male unemployment is the unreliable factor in all the previous surveys. He further said that they are finding it difficult to reconcile the reasons for the divergence between men's and women's rate of employment.
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