Liam Dann: NZ Herald Business Editor on the unemployment rate rising to 5.3%

Today's rise in unemployment isn't unexpected.  Latest Stats NZ data shows the unemployment rate has reached an almost nine-year high of 5.3% in the September quarter.  160 thousand people have been looking for a job, while another 138 thousand have been wanting more work.  The Herald's Liam Dann told Kerre Woodham today's figures are exactly as forecast by economists.  He says the labour market will remain tough for a while yet because companies are nervous to hire, and some are still having to let staff go.  LISTEN ABOVE See omnystudio.com/listener for privacy information.