Maori Party co-leader Pita Sharples has reacted with horror to new figures showing Maori out of work is up from 14.2pc to 16.4pc.

Pressure is going on the Reserve Bank to stop hiking interest rates, after today's surprise jump in the unemployment rate.

New Zealand's unemployment rate surged back to a 10-year high in the last quarter, rising from 6 per cent to 6.8 per cent, a leap which surprised analysts.

Salaries and wages are going up slowly, with a small rise in the June quarter showing employment is barely picking up.

A hike in the number of jobs advertised online is good news for the economy and labour market, a new report says.

The Government has announced plans to extend the 90 Day Trial scheme to incorporate more workplaces, reports TVNZ.

The NZ dollar peeked above US71c for the first time since late June as good economic data from the US and Australia restored faith in the global economic recovery.

Silver Fern Farms says it's preparing to cut up to 174 jobs from its Christchurch meatworks, the Belfast Rd site and the Canterbury lamb cutting works at Factory Rd.

NZ employers are more optimistic than they have been in two years, prompting speculation hiring activity could soon return to pre-recession levels.