News: UPDATE 1-New Zealand Q1 unemployment falls but wage growth remains tepid

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WELLINGTON, May 3 (Reuters) - New Zealand's jobless rate dropped to 4.9 percent though wage stayed sluggish in the first quarter as people found more jobs in tourism and construction, Statistics New Zealand said on Wednesday.

The New Zealand dollar rose to $0.6965 from $0.6940 before the release.

Analysts had been expecting the unemployment rate to remain unchanged from the previous quarter at 5.2 percent.

Though better-than-expected, the result was unlikely to move the Reserve Bank of New Zealand from its determination to keep interest rates on hold at 1.75 percent for years to boost tepid inflation and account for global uncertainty.

The participation rate jumped slightly to 70.6 percent, just above analysts' expectations that it would stay at 70.5 percent.

Jobs growth grew 0.8 percent largely due to the accommodation, food services and construction sectors adding employees to service the country's tourism and building booms.

Wages grew 0.4 percent on the quarter for 1.5 percent annual growth, below analysts' expectations of 0.5 percent quarterly growth and a 1.7 percent rise on the year.