New Zealand’s Ministry of Business, Innovation and Employment (MBIE) has released its Short-term Employment Forecasts: 2017 - 2020. Some of the key statistic that have emerged include the expectation that employment across sectors and regions will grow by two per cent per annum or 153,000 over the three years to March 2020.
The report has also found that highly skilled occupations such as managers and professionals are forecast to grow faster than overall employment growth, at 2.9 per cent or 31,600 per year.
Across all sectors, business services is forecast to make the largest contribution to employment growth, rising by 33,300, with construction and utilities close behind up 19,400, and health care and social assistance up 15,500.
All regions are forecast to grow over the next three years – with growth strongest in the Auckland and Waikato regions. Rural regions including Marlborough, Tasman, and the West Coast are forecast to grow at a faster rate, with all summing up to 6,500 more workers to the projected growth in 2020.
Low skilled workers will account for 29 per cent of the overall employment growth by 2020. Finally, the unemployment rate is forecast to decline to 4.1 per cent by 2020.