Sharechat Logo

Pace of labour market recovery slows

Wednesday 14th April 2010

Text too small?

The pace of recovery in New Zealand’s labour market slowed last month, according to data from Seek New Zealand, which operates the country’s largest jobs website. 

The Seek Employment Indicator, which measures the balance between supply and demand in New Zealand’s labour market, dropped a seasonally adjusted 5% in March, in its first decline since October, according to the Victoria University-led survey. New job ads fell 0.2% last month, though they are still about a third higher than their trough in July last year.  

“The fall in the Seek index in March 2010 reflects strong growth in applications for new jobs placed on the Seek in the month,” said Peter Sheehan, director at the Centre for Strategic Economic Studies at VUW. “While this partly reflects the high level of unemployment, it might also reflect a rising tide of job applications (from both those in work and those not working) sparked by improved expectations about the economy and by the increased number of available jobs.” 

New Zealand’s unemployment rate hit an 11-year high 7.3% in the three months ended Dec. 31, and firms’ pared back their hiring expectations in the March National Bank Business Outlook.  

Of the three major centres, Christchurch led the March decline in the index with a 7.2% fall, while Wellington dropped 3.2% and Auckland 3.4%.  

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO
Synlait FY24 guidance withdrawal
Meridian issues demand response exercise notice to NZAS
July 17th Morning Report
CRP - Korella North Environmental Approval Granted
SCL - Sale of Apple Orchards