New job ads jump as labour market builds on strong economy
New job ads jump as New Zealand labour market builds on strong economy
Year%2Don%2Dyear data released by New Zealand’s leading employment marketplace SEEK, has revealed a 17.3 per cent increase in job ad volumes compared with the same period last year (May 2013 – May 2014)%3B following a 2.9 per cent month%2Don%2Dmonth increase from April to May 2014.
According to SEEK, more than 26,000 jobs were posted on the site in the month of May. Job growth is being spearheaded by activity in Auckland, which experienced a 3.7 per cent increase in new job ads in May, along with Canterbury, where new job ads rose 3.8 per cent.
“Auckland and Canterbury continue to lead the way with significant job ad growth last month, however it is encouraging to see that economic optimism is now filtering through to all markets. Wellington demonstrated job ad growth for the first time in 2014, with a 1.7 per cent increase in new job ads,” says Janet Faulding, General Manager SEEK New Zealand.
“The New Zealand economy is in a period of rapid growth and latest bank reports are pointing to over 50 per cent of businesses feeling optimistic about their prospects, which reflecting on historical data, is very high,” says Ms Faulding.
“If we look at the SEEK data, this confidence is transferring to economic activity and having a direct impact on growth in job opportunities across the country, particularly in Auckland and Canterbury,” continues Ms Faulding.
Across New Zealand, demand for labour in construction is up 46 per cent year%2Don%2Dyear to May 2014, farming is up 43 per cent, trades and services are up 33 per cent, and design and architecture job ads up 26 per cent.
The SEEK Employment Index, which measures the ratio of new job ads placed with SEEK to the number of applications received for each job, experienced a 3.8 per cent increase in May%3B largely offsetting the fall of 4.1 per cent in April.
“The rise in the number of applications received for each job from April to May is a strong indicator of the continued confidence in the labour market. Skilled workers are currently on the move, so now is a great time for employers to look for new talent.
“It’s encouraging to see that we’ve started off the new financial year with such strong job ad growth. As businesses look to execute on their New Year plans it will be interesting to see if this results in a continued demand for labour,” concludes Ms Faulding.