NZ Job Participation Rate Hits All Time High

        2308 GMT [Dow Jones] Participation in New Zealand's jobs market hit an all-time high in 1Q while the unemployment rate held steady, helped by strong employment growth in New Zealand's second largest city of Christchurch, according to Statistics New Zealand. Seasonally adjusted unemployment remained steady at 6.0% vs expectations of a 5.8% rate, while the participation rate rose to 69.3% vs expectations of 68.9% participation. "We're seeing more people in the labour market, with the participation rate surpassing the previous high in late 2008 before the downturn in the labour market. The rise in participation is on the back of more people in work, while the number of people looking for work remains unchanged," says labour market and households statistics manager Diane Ramsay. (lucy.craymer@wsj.com;Twitter: @lucy_craymer)
        (END) Dow Jones Newswires

        May 06, 2014 19:08 ET (23:08 GMT)