The Ministry of Business, Innovation & Employment’s report gives a picture of what is going on in the NZ labour market and employment industry. Our Operations Director Ian McPherson has summarised some key points below.
MBIE released their Quarterly Labour Market update this week which highlighted that:
- Labour demand is moderate, with employment growth weakening.
- Labour market matching has seen four consecutive quarters of increased unemployment rates, as moderate employment growth has fallen behind strong population growth.
- Labour supply remains steady, as strong population growth, driven by record migration, partially offset a fall in the participation rate.
- Labour market quality is steady.
- Workplace performance has improved over the year.
- Wage growth remained slow in the September quarter, but this comes against a backdrop of low inflation.
For the full report from the Ministry of Business, Innovation & Employment click here
