Employment to continue to grow
On: 31 August 2015
The number of workers will rise by about 124,200 over the next three years, according to the Ministry of Business, Innovation and Employment’s latest Short-term Employment Forecasts: 2015-18 report.
The report suggests that employment will continue to grow, but at a slightly slower pace as economic growth eases over the next three years. From March 2015 to March 2018, employment is predicted to increase by 1.8 per cent.
Key findings of the report are:
- Strong employment growth is forecast in the construction and utilities industries, along with the hospitality sector, wholesale and retail trade, and business services.
- Employment growth in highly-skilled occupations (mostly managers and professionals) is forecast to be greater than the overall rate. Highly-skilled occupations will account for more than 58 per cent of employment growth over the next three years.
- Opportunities for lower-skilled workers are forecast to account for about 26 per cent of employment growth over this period. The food processing, retailing, accommodation, business services, and construction industries are expected to create most of these opportunities.
- Regional employment growth over the next three years is forecast to be concentrated in the Auckland and Waikato regions in the North Island and in the Canterbury and Otago/Southland regions in the South Island.
- Unemployment is forecast to remain relatively steady at 5.2-5.3 per cent over the next three years.