Employment Hero: Strong Employment Growth Despite High Oil Prices And Global Instability

Despite high oil prices and global instability, the latest data from Employment Hero reveals that job growth remained strong in March, driven by marked demand for casual workers.

Employment Hero's Jobs Report for March 2026 found employment growth was up 5.8% year-on-year, down slightly when compared with the 6.8% YoY increase reported in February.

However, the figure shows job openings have held up despite global instability, up 0.5% in March month-on-month and up 0.7% vs. three months ago.

This increase is being driven by a boom in casual positions, up 18.3% YoY, 3.3% when compared with December and 0.7% MoM.

Neil Webster, Employment Hero General Manager NZ, says the increase in casual roles is most likely being driven by low business confidence and high levels of uncertainty among employers and business owners.

“While it is positive to see employment growth holding up in the face of increasing global pressures, it is clear that employers are seeking out workers for casual and part-time positions rather than full-time work. This comes amid high levels of uncertainty and an unclear economic outlook.

“Interestingly, the data shows wage growth for casual workers is down -1.6% MoM but flat for full-time staff. This could be driven by high unemployment, taking wage pressures off employers.”

Webster added that employment growth for part-time workers fell in March, down -1.5% MoM but is still positive year-on-year at 5.6%, significantly higher than full-time work at 1.1%.

South Island leads growth

The South Island is driving the employment growth up 4.6% YoY and 1.2% this month compared with February. This compares with 3.1% YoY and 0.6% MoM for the North Island.

The South Island is also driving wage growth up 2.8% YoY - almost matching inflation - and 1.2% month-on-month. This compares with growth of just 1.1% year-on-year for the North Island and 0.4% MoM.

Canterbury is leading the growth with wages, up 2.9% YoY and 1.8% in March compared with February.

“While wages are certainly looking more positive for workers in Canterbury, the story is very different for other areas of the South Island and the North Island, where wage increases are falling significantly behind inflation, leaving workers worse off,” Webster said.

While casual job opportunities are booming, wages for this type of work type saw the smallest year-on-year increase, up 1.2% compared with 2.9% for part-time work and 2.6% for full-time work.

Webster says this all points to a market where employers’ margins are increasingly squeezed, and they’re trying to find ways to meet customer demand and expectations without significantly increasing their labour costs and risk.

Signs of recovery in Wellington

The latest data shows small signs of recovery for the capital's job market, with employment growth flat year-on-year and up 0.3% when compared with February. Wages are also improving slowly with a 0.8% increase in March - still well below inflation but better than the -1.3% growth reported in February.

About Employment Hero

Employment Hero is the global authority on employment, offering a world-leading Employment Operating System (eOS) that simplifies and optimises every stage of the employment process. Its award-winning platform combines HR, payroll, recruitment, and employee engagement tools with the groundbreaking employment superapp, EH Work, which integrates career management and financial wellbeing. Serving over 350,000 businesses and managing more than 2.5 million employees worldwide, Employment Hero reduces administrative burdens by up to 80%, enabling organisations to focus on their goals and create more productive, engaged teams. By revolutionising the employment marketplace, Employment Hero is making employment easier, more valuable, and rewarding for everyone.

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