Analysis of job vacancies on the New Zealand job site Trade Me Jobs has shown the New Zealand job market to have remained strong in the first quarter of 2018. However the company also suggests this trend may not last long.
Head of Trade Me Jobs Jeremy Wade said that while the employment market appeared healthy, there are signs this could change in the absence of government investment decisions. “After some impressive double-digit growth in 2017, the number of job listings appears to be slowing and only grew a minuscule 0.4 per cent on last year,” he noted.
Mr Wade said the average wage was also relatively stagnant on the year prior, up just 0.6 per cent. “As has been the case for the past two years, national wage growth remains stubbornly low,” he said. “Employees will be pleased to know that with the recent minimum wage increase, we’re expecting to see some good growth in the second quarter.”
Despite evidence the market is cooling, Mr Wade said it’s still a job hunter’s market after the average number of applications per listing fell 13.3 per cent on last year. “Job hunters remain in prime position as we head into April. While there’s still competition for roles, qualified candidates have a better chance of obtaining a new job than they have had in recent memory and employers are going to have to work hard to secure the right candidate for the job.
“This is not ‘doom and gloom’ but it is ‘watch this space.’” Wade says. “Job listings have cooled, particularly in our biggest centres, but in most sectors there’s still hot competition for top talent. It’s tough for employers, but we could see the market swing back in their favour should there be continued uncertainty in the infrastructure sectors.”