Employment and recruitment agencies in Auckland and other cities in New Zealand may be busier in the third quarter of 2017, due to higher confidence in the job market.
According to the Westpac McDermott Miller Index, job confidence among Kiwis increased to 113.8 between July and September 2017. The growth represented the highest confidence in the market since 2008, despite the employment expectations index falling to 112.6.
The outlook among Kiwis in Auckland emerged as the strongest in the index. However, salary growth could be an unlikely prospect in the coming year, according to senior economist Satish Ranchhod. Salaries nationwide have only risen around 1.7 percent on an annual basis, even as jobs and the economy continue to grow, Ranchhod said.
Every income group in the country remained pessimistic about their salaries going up anytime soon. As a result, their spending power may have declined due to a higher cost of living. The situation in Auckland could be a bit different, as the City’s economic growth continues to outpace other areas in New Zealand.
Employment in Auckland continues to be strong, with a 4.2 percent increase in employed people for the second quarter of 2017, according to the Auckland Economic Update for October. The jobless rate during the quarter also reached 4.5 percent.
This partly drove the City to achieve economic growth and outperform other cities in the country. Retail sales in Auckland, for instance, rose 4.8 percent for the second quarter compared to a 3.8 percent growth in consumer spending in other parts of New Zealand.
Employers should take advantage of a higher confidence in the job market, as it provides an opportunity to recruit skilled workers. For job hunters, Auckland may be the best place to find a job for now.