A higher net percentage of Auckland firms expect to increase the size of theirworkforces over the next 3 months, increasing from 4.14% to 8.38%.
The Westpac McDermott Miller employment confidence survey has not changedbetween the last two quarters
NZ level data suggests consumer confidence is up slightly and on balance, thenumber of optimistic households outnumber the number of pessimistic households.
Notwithstanding this, households are finding the job market difficult, with a net63% of NZ households say that jobs are hard to get.
The Quarterly Employment Survey (also collated by Statistics NZ) is a measure of demand for labour by firms and shows that the full time equivalents employed byAuckland businesses in the September 2012 quarter was on par with the previousquarter and up slightly over the previous year
The QES also shows that the total number of work hours in the Auckland economyincreased slightly over the last quarter.
One interpretation could be that people are moving from part-time employment tofull-time employment.
We have seen an upswing in the number of residential building consents issued inAuckland
which should help to boost employment in the construction sector
The situation in the rest of NZ is different
At a NZ level, the changes in employment demographics are different to Auckland. The mainquarter-on-quarter changes for New Zealand in unemployment were in the professional, scientific,technical, administrative and support services (down 9,900 people); transport (down 6,800 people);manufacturing (down 6,100 people); education and training (down 5,900 people); and construction(down 4,700 people)
despite a big increase in Canterbury.
Education and training
The point of similarity between Auckland and NZ employment data has been in the education andtraining sector. While there is likely to be a seasonal element to employment in the education andtraining sector, comparing the results for the September quarter this year to last year, there is still aloss in the number of people in employed in this sector of about 5,900 people in Auckland and 9,900for NZ. There has been some weakening in international student numbers to NZ. Figures for thenumber of permanent, long term migrants entering NZ on a student visa in 2012 (year toSeptember) have fallen in the last three years which could explain some of the weakening inemployment in this sector.
Australia and China stalling
The Australian and Chinese economies have slowed somewhat over the last quarter
and this mayhave some downstream effects for New Zealand. First, softening demand from our largest tradingpartner; and second, unemployment in Australia increased 0.3 percentage points over the last fewmonths.China also continues to experience a slowing rate of growth down from near 10% in 2011 to 7.4%currently.
Harvey Brookes Manager Economic Development
Phone: +64 9 307 6034 / Extn (40)7834 / Mobile +64 21 913 418 / Fax +64 9 3695484Auckland Council, Level 4, 360 Queen St, Auckland Central. Private Bag 92300, Auckland 1142.
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