New Zealand unemployment rose in the second quarter and wage inflation showed signs of slowing, indicating the labor market is finally starting to weaken after relentless increase-rate increases from the central bank. The jobless rate climbed to 3.6% from 3.4% in the first quarter, Statistics New Zealand said Wednesday in Wellington. Economists expected 3.5%. Annual wage inflation eased to 4.3% but employment jumped 1% from the previous three months, beating estimates. The tight labor market has been fueling price pressures as employers lift pay rates to retain workers and attract new hires. The Reserve Bank has ... (full story)