NZ unemployment rate slips to 6.2% NEW Zealand's unemployment rate has fallen more than expected in the third quarter as construction, retail and hospitality firms hire workers. The kiwi dollar has jumped a third of a US cent on the figures. The unemployment rate slipped to 6.2 per cent in the three months ended September 30, just below the 6.3 per cent forecast in a Reuters survey of economists and down from 6.4 per cent in the June quarter, according to Statistics New Zealand's Household Labour Force Survey. The labour market got a boost, with 1.2 per cent growth in employment, beating estimates of 0.6 per cent, led by gains in retail, accommodation and food services, and the construction sector. Those gains were primarily in Auckland and Christchurch, the country's two biggest cities, which are also facing construction booms. Full-time employment rose one per cent and part-time jobs grew 1.1 per cent. New Zealand's workforce participation rate rose to 68.6 per cent in the September quarter from 68.1 per cent in the previous quarter, against the backdrop of increasing net migration. "We saw continued improvement in the labour market conditions over the quarter as employment rose and unemployment fell," Statistics NZ's Diane Ramsay said in a statement on Wednesday. However, annual wage inflation remains constrained. The Quarterly Employment Survey, also released on Wednesday, showed ordinary time private sector wages rose 1.6 per cent to $NZ25.91 ($A22.94) average per hour, and were up 2.6 per cent on an annual basis, outpacing the 1.4 per cent growth in public sector wages to $NZ35.33. Average weekly paid hours for full-time equivalents ordinary time rose 1.4 per cent to $NZ1,050.05. The New Zealand dollar jumped to 83.60 US cents from 83.28 cents immediately before the report. The kiwi also rose to 87.94 Australian cents from 87.60 cents. New Zealand's unemployment rate ranked 13th lowest among developed nations.