Job Market Shifts in New Zealand: Central Hawke's Bay Leads in Salaries

Amidst the bustling job market of New Zealand, the beginning of 2024 has brought some intriguing shifts that are causing ripples across the employment landscape. The who, what, when, and where? Let's dive in.

Job Applications Soar Amidst Salary Dip

In an unexpected turn of events, the New Zealand job market has witnessed a significant surge in job applications in January 2024, with a staggering 54% increase compared to December. However, this enthusiastic wave of applicants is met with a slight decrease in average salaries, dipping by 3.6%.

The shift in salaries could be attributed to the rising levels of migration, with newcomers eagerly seeking employment opportunities in the Land of the Long White Cloud. But the real surprise lies in the regional distribution of salaries.

Central Hawke's Bay Takes the Lead

Central Hawke's Bay has emerged as the dark horse in the race for top-paying regions, surpassing even the likes of Auckland. With an average salary of $78,100, Central Hawke's Bay is now the frontrunner, leaving Auckland trailing with its average salary of $77,769.

The top-paying jobs are primarily in the construction and roading sectors, with project management and engineering roles leading the salary charts. These roles offer salaries that exceed $150,000, making them highly coveted in the job market.

Industry Shifts and Job Seeker Challenges

While the banking, finance, and insurance sectors have seen notable salary increases, industries such as hospitality, tourism, retail, and transport have experienced a surge in job applications.

This increase in applications, coupled with a dip in salaries, signals a potential shift towards a more employer-leaning job market. For job seekers, this means the need to ensure their job profiles and CVs stand out is more crucial than ever.

With the unemployment rate returning to its pre-pandemic level of 4%, the labor market dynamics are changing rapidly. Infometrics and Frog Recruitment emphasize the need for adaptability in navigating these shifting sands.

The predicted rise in unemployment above 4% in the December quarter, along with recessionary levels of perceived future job opportunities, adds to the challenges that job seekers face.

However, there is a silver lining on the horizon. The upcoming minimum wage hike in April 2024 offers a glimmer of hope for those grappling with the changing job market.

In conclusion, the New Zealand job market is a dynamic and evolving landscape. The recent surge in job applications and the shift in regional salary leaders are just some of the many changes that job seekers and employers must navigate in the coming months.

As the job market continues to evolve, one thing remains clear: adaptability and a strong job profile will be key to thriving in this ever-changing landscape.