Job outlook improves in New Zealand as unemployment falls

by Ray Clancy on August 20, 2014

Young people seeking a new life in New Zealand will have their dreams boosted by new data that shows unemployment has fallen and there are more jobs being advertised.

Indeed, that latest labour force survey shows that unemployment has fallen to 5.6%, its lowest level since the first quarter of 2009.

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The latest labour force survey shows that unemployment has fallen to 5.6%

‘These results show the continued strength of the New Zealand economy as we continue to recover from the twin blows of the Global Financial Crisis and the Canterbury earthquakes,’ said Tertiary Education, Skills and Employment Minister Steven Joyce.

Joyce pointed out that the data also shows that wages continue to grow ahead of inflation with average weekly wages up 2.7% over the year, compared with inflation of 1.6%.

‘The challenge now is to continue to build on this momentum so we have consistent and sustained economic performance that really lifts the opportunities for and incomes over the longer term,’ he said.

‘The government is continuing to work hard through its Business Growth Agenda to implement policies that encourage businesses across the country to invest and grow, and hire more people,’ he added.

Meanwhile, data from the Ministry of Business, Innovation and Employment show that skilled job vacancies advertised online increased by 0.6% in July from June, while the total number of online advertisements for skilled jobs has grown by 9.9% in the past year to July.

The sectors that saw the largest increase in online vacancies were construction and engineering, with growth of 2.9%, hospitality and tourism up 1% and information technology up 1%.

Technician and trade worker occupation groups experienced the biggest growth both monthly and annually, up 0.7% and 20.1% respectively.

The Ministry has expanded the number of regions to be included in the Jobs Online report, which will now cover seven regions in the North Island and three regions in the South Island. In July, the number of vacancies for skilled jobs grew in most regions across New Zealand.

The biggest increase was seen in Manawatu/Wanganui with growth of 2%, followed by the Gisborne/Hawke’s Bay region with growth of 1.8%.

The Ministry’s Labour Market and Business Performance Manager David Paterson says these results are consistent with the latest ANZ Business Outlook showing businesses expected to hire more staff over the next year.

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