New Zealand jobs growth loses pace

© Scanpix/AFP

New Zealand employers recruited workers at a slower pace than projected in the second quarter, adding to omens that economic growth is decelerating, reacting to higher borrowing costs. The employment rose 0.4%, adding 10,000 jobs, compared to the first quarter, when the employment increased 0.9%. The unemployment rate dropped to 5.6%, the lowest level in nearly five years.