As job creation in Australia slows, New Zealand sees a rise
The Australian jobs market had been booming but it appears that the slowdown has picked up its pace as the mining boom draws to a close and the economy begins to slow down. According to the Australian Bureau of statistics latest labour force data, Australia’s unemployment rate has inched up by 0.2% to 5.7% in June.
The number of new jobs created has fallen with online recruiters seeing declines of 2.4%. The biggest decline in new job advertisements is most apparent in Queensland and Western Australia, regions most affected by the slowing mining sector. Earlier in July one of the country’s biggest gold mining companies Newcrest announced it was cutting jobs. One worrying statistic spouted by Australian politician Sophie Mirabella is that the country is losing one manufacturing job every nineteen minutes.
Expats wanting to move to the down under should ideally do so soon or risk a more competitive jobs market as more native ‘Aussies’ find themselves out of work.
In New Zealand however the picture is very different with employment prospects looking considerably brighter. Jobsite Trade Me has reported that the NZ employment market is “fizzing again with the number of vacancies advertised in the quarter to June up 11% on a year ago.”
The country’s biggest job site announced earlier this month that over 128,000 new jobs had been listed since January with the most jobs being created in Auckland and Wellington. New Zealand has received a major boost to its jobs market following the Christchurch Earthquake, thousands of new jobs were created to repair the damage caused by the quake.