Experts claim rising unemployment is necessary medicine to get inflation under control.
Stats NZ says unemployment rose to 3.9 percent for the three months to September, up from 3.6 last quarter- and 3.2 a year ago.
Infometrics Principal Economist Brad Olsen says those figures are still a lot better than they've been in recent history.
"Some of the underlying figures suggest that more people coming in from migration, fewer jobs on offer and more people looking for them means there might not be as much additional pressure on prices as we head into next year."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com