Posted on 19th October 2022
A Talent Drought as Jobs Flood in
The September Quarter’s Jobs Report in New Zealand reflects a boosted employment market. Despite falling 8.8% last Quarter, the last three months have seen a surprise rebound by rising 3.9%. While opportunities may be plentiful, industry insiders say that job seekers are running away from the downpour.
The general feeling is that the last three months has seen the employment market settle, but some sectors are still crying out for talent. Recruiters are saying that industries like IT continue to lose candidates to the overseas market, where wages are generally higher. It’s prompted employers to look overseas to fill the gaps, explaining the 4.8% contraction in Technology opportunities in the New Zealand market. This data is also supported by the fact that employers in this sector do not even need the talent to be physically based in the country to do the work, meaning they are not restricted by the Government’s new, and restrictive, immigration policies.
Nevertheless, such policies may have revealed the underlying demand for talent in New Zealand. As part of the Accredited Employer Work Visa (AEWV), employers are now required to advertise a job in the New Zealand market before sourcing talent from overseas. This may be the real reason for the stark increases in vacancies in Accommodation and Food Services, which were up 16.7%, as well as Sales Worker job opportunities which rose by 14.3%.
Recruiters have also observed that businesses are becoming tired of waiting for economic forecasts to eventuate. With no clear signs of a slowing economy or reprieve from the skills crisis, those who had put off hiring in the middle year due to talks of a recession, are now re-entering the market. This may also be behind the increase in vacancies for this Quarter. However, simply because these jobs are being advertised does not mean they are being filled, by Kiwis, or by global talent.
(Complied by the RCSA).Recruitment and Consulting Services Association