Jobs growth slows

Jobs growth, while still stubbornly high is starting to slow. Growth in February was 22% compared with January and while some sectors were up significantly, the Food & Beverage sector only put on 52 additional, while accommodation roles only lifted by 1.

By comparison, jobs growth had been averaging 30% late in 2022. Last month accommodation and F&B accounted for 65% of all job hirings, down from 75% last year. Anecdotally, the application rate has increased over the last month.

Many employers are waiting to see how the tail end of summer performs and whether the strong visitor numbers are maintained during the shoulder season.  Hotels are still reporting full houses for the next couple of weeks. Winter is looking strong with operators reporting their ski market bookings have been very strong, way earlier than normal, with some almost fully booked for July and Aug, with early Sept now flowing in. With a strong winter on the horizon seasonal advertising for workers will be under way soon.

Source jobfix.co.nz

February saw 656 roles advertised up from 525 in January and 506 last February.