New Zealand's unemployment rate fell to 5.1 percent in the second quarter, Statistics New Zealand said on Wednesday, beating expectations. The agency revised seasonally adjusted first quarter unemployment rate for the first quarter to 5.2 percent from 5.7 percent. Quarter-on-quarter employment growth was 2.4 percent while the participation rate was 69.7 percent. Economists polled by Reuters had forecast an unemployment rate of 5.3 percent and employment growth of 0.6 percent. They had also tipped a participation rate of 68.8 percent.
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