6 March 2014
The Auckland boom is alive and well, and you can look for unemployment to undergo a huge drop in the figures for the March quarter. Employment will be massively up, helped by migration, and unemployment numbers will have decreased, giving a double-benefit to the rate, which I expect to see drop around half a percent at least for this quarter.
The big question is when pressure will go on wages, and I think that's just starting to happen now, with employers desperate enough to play bidding games with candidates. People are starting jobs, only to be offerred large increases by someone else, so the market is very volatile right now on the money front, and wider pressure will come on wages very shortly.
The one saviour on that may well be the amazing surge in skilled Australians moving to New Zealand.
In 25 years, I have very rarely seen Australians wanting to move to NZ, and it has been only once or twice a year that I've seen an Aussie applying for a job this side of the ditch.
Already this week, I have had 28 applications from highly skilled Aussies who are unable to get work at home, so are looking at taking advantage of our booming employment market. These people are by no means the dregs of the market - we are talking about degree-qualified engineers with 10-20 years of experience; people at the top of their game, and they cannot find work in any of the states.
While I doubt that many of those who come over will stay for the long term, we can make the most of their abilities now and add to the economy.
If you're looking for people, scoop up some of these Aussies fast!
Copyright © Alan Charman