According to CoinMeta, New Zealand's unemployment rate climbed to 5.6% in the June 2026 quarter, the highest level in a decade, exceeding market expectations of 5.4%. This data reflects that more people are entering the labor market, but the economy has not been able to absorb them, resulting in low wage pressures. As the unemployment rate rises, market expectations for the New Zealand Reserve Bank (RBNZ) to raise interest rates to 2.75% at its meeting on September 2 remain high. However, weak wage growth and idle labor in the market may prompt RBNZ to adopt a more cautious approach to raising interest rates.