Government welcomes more job ads

By Phil Boeyen, ShareChat Business News Editor

Wednesday 11th July 2001

The Government claims latest figures showing a rise in the number of employment advertisements is another welcome indication that unemployment will remain low.

Data from the ANZ survey shows job ads rose 4.2% in June, driven largely by a sharp rebound in advertising levels in Christchurch. Advertising levels also increased in Auckland, Waikato and Hawkes Bay and were ahead of a year ago levels in all regions.

Employment Minister, Steve Maharey, says national job ad numbers are now at a record high, which is good news for the economy, and for job seekers.

"It is also good news for the government as we try to lift the skills of the New Zealand workforce and to expand economic opportunity.

Mr Maharey says the government provided another $56 million over four years in the 2001 budget to create an additional 17,000 industry training places, but there is a limit to what the government can achieve on its own.

"For best results, we need to work in partnership with a vibrant private sector."

The ANZ says the latest increase in job advertising resulted in the national job ads series marginally eclipsing previous highs seen in March 2001 and September 2000 and was otherwise suggestive of further growth in employment.

"This is a positive development and follows an apparent softening in the series in the previous two months," says the bank's chief economist, Bernard Hodgetts.

"The latest increase adds to the evidence that the New Zealand economy is holding up well despite the spectre of slower growth overseas. However, it remains to be seen whether these gains can be sustained over the months ahead."

Mr Hodgetts says at the very least, the high levels of job advertising highlight the fact that New Zealand's labour market remains tight at present following the sharp decline in unemployment over the past 18 months.

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