Anz New Zealand Job Ads rise Strongly in April, Suggests Ongoing Solid Employment Growth

The ANZ New Zealand job ads rose strongly in April on a seasonally adjusted basis. The job ads rose robustly by 2.8 percent, the strongest rise in five months. On a year-on-year basis, job ads were up 18.2 percent.

The ongoing high level of job ads shows a robust labor market. The rate of growth seems to be rising again following flattening off for a period. This is in line with the economy reaccelerating in the first quarter after moderate growth seen at the end of last year.

Auckland continues to be the strongest of the main centres on a year-on-year basis, with the seasonally adjusted monthly figure of job ads rising 3 percent to a fresh high. Wellington job ads growth was up 15 percent year-on-year, whereas Canterbury job ads rose to the highest level since mid-2015.

The regions continue to set the pace, noted ANZ. Except Taranaki, every region is seeing stronger annual job ad growth than any of the three main centres. However, the picture over the last few months is more mixed. The total job ads growth is being mainly driven by the construction, manufacturing, utilities and transport sector. The service sector is also adding strongly, along with retail and tourism.

“The data suggests ongoing strong employment growth, with the unemployment rate remaining under 5 percent this year. Lower unemployment will help propel wages higher”, added ANZ.

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