Applications per job ad decline for first time since 2022
New Zealand's job market is showing signs of "genuine recovery" amid consistent growth in labour demand over the past months, according to SEEK NZ.
Its latest Employment Report showed a one per cent increase in job advertisements for the month of November, the fifth consecutive month that job ad volumes have posted that growth rate.
Job ads also went up 4% quarter on quarter and 9% year on year.
"November's data shows New Zealand's job market continuing its steady recovery, with job ads up one per cent for the month and now nine per cent higher than last year. The quarterly view is similarly encouraging, up four per cent on the previous quarter and seven per cent compared to the same quarter last year," said Rob Clark, SEEK NZ country manager.
"While the market remains challenging for many job seekers, the consistency of this growth suggests we're now in a genuine recovery phase rather than simply stabilising."
Uneven recovery in NZ
Despite the steady growth in job ads, Clark warned that recovery remains uneven by sector and region.
By industry, the advertising, arts and media industry posted the highest monthly growth rate in job ads with four per cent.
The human resources and recruitment industry also posted a one per cent increase in job ads, according to the report.
However, the banking and financial services industry recorded a three per cent decline in job ads, as did the science and technology and the hospitality and tourism industries.
"For candidates, the message is one of cautious optimism – the market is clearly improving, but that improvement is uneven across regions and sectors," Clark said.
By location, all regions except Marlborough (-1%) recorded a monthly increase or no change at all when it comes to job ads.
Annually, the West Coast led the increase in job openings with a 30% increase. This was followed by Southland with a 27% rise, and then by Tasman with a 23% increase.
"Canterbury and Otago are also showing strong double-digit annual growth at 16% and 17%, respectively. Wellington and Waikato are both tracking above 12% year-on-year, indicating solid momentum in the central regions," Clark added.
First job ads dip since 2022
The increase in job ad volumes comes as applications per job opening went down for the first time since January 2022, according to SEEK NZ.
The report revealed that applications went down by one per cent in October, despite most regions recording a monthly increase.
The largest monthly increases in applications were logged in Marlborough (5%) and Gisborne (3%).
