Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Training staff is key to reducing skill shortages

31 August 2006

Training staff is key to reducing skill shortages

The findings in a just-released labour market report highlight the benefits of employers investing in staff training as a way to help alleviate ongoing skill shortages, the Department of Labour says. The Department's Skills in the Labour Market report, which covers the June 2006 quarter, shows that while finding skilled staff is the easiest it has been for seven years, skill shortages remain a major issue in the economy.

Skill shortages have continued to reduce from their historic highs of late 2004 and early 2005. A fall in job vacancies over the past year also points to an improvement in recruitment conditions for employers, the report finds.

Department of Labour Deputy Secretary Monique Dawson said the number of advertised vacancies remained high, indicating the labour market was still tight and that recruitment conditions remained difficult. "The labour market has undergone a fundamental change in the past six years. Even with the recent easing in the labour market, overall we expect to see employment growth continue and unemployment levels to remain low," she said.

"We will not see again unemployment levels of 10 per cent or more. Indeed, over the next three to five years, our worst case forecast is for unemployment to peak somewhere around 4.5 per cent.

"So while businesses might find it easier in the short-term to find skilled staff, the reality is the days of a readily available labour supply are over, probably forever." In recent years, businesses have responded to rising demand for their goods and services simply by employing more and more people. But this is becoming less of an option as the number of people available to hire reduces, Ms Dawson said.

"Looking forward, we will continue to encourage New Zealanders living overseas to come home, and will continue our targeted immigration polices to bring in people with the skills we need.

"Businesses can also contribute by increasing their productivity. Productivity isn't about working longer hours; it's about increasing the value of every hour worked. A key way to do this is by increasing the skills of our existing workforce through education and training.

"It may well be that the skilled employee a business is looking to recruit is already in their workplace, and all that they need is some extra training. Additional training is an investment not only in that staff member, but also in the business and the New Zealand economy," Ms Dawson said.

The Skills in the Labour Market report summarises information on skill shortages, mainly focused on the Quarterly Survey of Business Opinion from the Institute of Economic Research, and the Department of Labour's

Job Vacancy Monitoring Programme.

The report is available on the Department of Labour website at: http://www.dol.govt.nz/lmr/lmr-skills.asp

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news