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New Zealand Jobs forecast to grow 148k over next three years

Jobs forecast to grow 148k over next three years

The latest employment forecast from the Ministry of Business Innovation and Employment predicts the number of jobs in New Zealand will grow by another 148,300 over the next three years.

The Short-Term Employment Forecasts: 2016-19 report, released today, predicts employment will grow an average of 2.1 per cent annually over the next three years.

“It is encouraging to see robust job growth is predicted to continue across the country,” says Tertiary Education, Skills and Employment Minister Steven Joyce.

The forecast shows the work the government is doing maintaining a strong predictable macroeconomic framework and delivering microeconomic reform through the Business Growth Agenda is continuing to underpin positive employment growth.”

“Rates of employment growth are forecast to be highest in the South Island, particularly in Marlborough (3.6 per cent), the West Coast and Otago (both at 3.2 per cent) over the three year period. In terms of net job numbers, Auckland and Canterbury top the list, adding 58,800 and 19,900 workers respectively by 2019.”

“MBIE expects the strongest job growth in construction, hospitality, wholesale and retail trade and business services over the next three years.”

Unemployment is forecast by MBIE to return back to 6 per cent by March 2017 before falling to 5 per cent by March 2019.

“Though much of the employment growth over the next three years, 57 per cent, is projected to be in highly-skilled occupations, opportunities for lower-skilled workers are forecast to account for about 30 per cent of growth. The food processing, retailing, accommodation, and construction industries are expected to create most of these opportunities.

“The Government’s Business Growth Agenda and the Regional Growth Programme will continue to support businesses and regions across New Zealand to build on their strengths, attract investment and grow jobs.” Mr Joyce says.

To create this report, the Ministry of Business, Innovation and Employment draws on the latest macroeconomic forecasts by the Treasury.

source: https://www.beehive.govt.nz

New Zealand Jobs forecast to grow 148k over next three years