New Zealand Labour Market Insights: January – March, 2024

Jobs market slow as economic conditions weaken.

The weakness in the New Zealand economy has become fully apparent with confirmation that the country experienced a recession.

This is the second in 18 months – when GDP sank 0.1% in the December quarter 2023, following a 0.3% decline in the September quarter. Economic growth over the year to December was a meagre 0.6%.

In turn, the jobs market is showing signs of further weakening – with the volume of job ads falling sharply in February, after a short-lived improvement in January.

This report uncovers what’s happening across New Zealand, looking at how the workforce has been impacted, the challenges employers face in the current landscape and trends in national recruitment activity.

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