New Zealand employment stats: plenty o’ jobs in NZ

I like being the bearer of good news, so it’s with pleasure I announce that unemployment is at an all-time low in New Zealand.

It’s great news for the New Zealand economy that there’s an abundance of jobs in New Zealand. The overall rate of unemployment now sits at 3.5%, the lowest since records began 22 years ago. And this isn’t just a moment of job-fullness: unemployment levels have been below 4% for the last three years running.

But the good news isn’t as simple as that – the number of New Zealanders in employment also fell, due to a dropping rate of participation in the workforce. Um, what? Well, the number of people of working age who aren’t actively seeking work or currently employed rose by 18,000. The participation rate rises and falls with demand for labour; the recent drop follows two quarters of strong growth in employment (25,000 in March and 13,000 in June).

So, is the NZ job glass half-full? Yes! Overall, the number of people employed has increased by 1.5% over the last year. Interestingly, this growth has been in part-time work rather than full-time positions (the number of full-time jobs fell by 10,000, a drop which was felt acutely by the construction industry). A recent business sentiment survey suggested there was still a strong underlying demand for workers. This, combined with a low rate of unemployment in New Zealand, means there’s an upward pressure on wages (now we’re talking) which is good news for employees.

If you’re one of the few NZ job hunters, have a prowl through our New Zealand job section and find out how to hit the mark when writing your CV .