New Zealand's unemployment rate unexpectedly rose to an 11-year high in the third quarter. There are only three days left until the general election, putting more pressure on the government. According to data released by Statistics New Zealand in Wellington on Wednesday, the unemployment rate rose to 5.7% from 5.6% three months ago, the highest level since the third quarter of 2015, higher than the 5.5% forecast previously predicted by economists. The number of employed people fell 0.1% from the previous three months, while economists had previously predicted a 0.4% increase. New Zealand's economic recovery remains fragile. Soaring oil prices and the upcoming November 7 election have dampened business confidence and limited recruitment. The high unemployment rate is certainly bad news for the center-right coalition government, as voters are questioning the reliability of its economic policies.

New Zealand's unemployment rate unexpectedly rose to an 11-year high in the third quarter. There are only three days left until the general election, putting more pressure on the government. According to data released by Statistics New Zealand in Wellington on Wednesday, the unemployment rate rose to 5.7% from 5.6% three months ago, the highest level since the third quarter of 2015, higher than the 5.5% forecast previously predicted by economists. The number of employed people fell 0.1% from the previous three months, while economists had previously predicted a 0.4% increase. New Zealand's economic recovery remains fragile. Soaring oil prices and the upcoming November 7 election have dampened business confidence and limited recruitment. The high unemployment rate is certainly bad news for the center-right coalition government, as voters are questioning the reliability of its economic policies.