Help Wanted: Quarter-million Worker Shortfall By 2048

New research shows New Zealand’s need for workers will outstrip supply by a quarter of a million people by 2048, BusinessNZ says.

Sense Partners’ The future of workforce supply, a new report commissioned by BusinessNZ, shows that without policy changes our tightest ever labour market will get tighter.

BusinessNZ Chief Executive Kirk Hope says this report "proves there is no slack in our labour market".

"We are in a global war for talent and New Zealand’s labour shortage is the most intense in the OECD.

"Inaction is not an option and the labour market will not correct itself. As our ageing population retires from the workforce, sufficient immigration is needed to boost the economy."

Mr. Hope says BusinessNZ favours simple, open and permissive immigration policy.

"It’s not just a numbers game. The diversity of skills, experiences and networks migrants provide can combine with local skills to help New Zealand businesses thrive."

Besides immigration, the report demonstrates additional measures for Government to chart a course out of the current labour crisis.

"Things like increasing participation and employment of Maori, Pasifika, women, and older people, to help close the workforce gap. Or by making capital investment in labour-saving technology simpler.

"We look forward to the Government working closely and at pace with industries to ensure we’re getting the skills we need, where they are needed."

The full report by Sense Partners is attached and can be found on the BusinessNZ website from today.

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