by Selwyn Manning
ANZ Bank figures show Auckland is driving the country’s economic growth figures with job advertisements indicating the labour market riding a rising wave.
The figures are based on the number of job advertisements and are used to indicate an expected drop in the number of unemployed people.
The ANZ figures show nationally, job advertisements for August were 2.1% ahead of July. They were also up 30% over August 1998.
ANZ economists called the trend “unusually strong” for this time of the year.
They identified Auckland labour market for pushing up the growth figures – job advertisements in the city were up 2.6% for August and up 35.4% compared with August 1998.
Further south, Wellington recorded a 2.1% increase but with an annual figure of 16.4% is lagging behind Auckland.
Christchurch job advertisements were up 15.8% up last year but this was propelled up with a boom Christmas and New Year period.
August’s figures for
Christchurch show a cooling economy with -0.01% for August
which follows a definite drop in