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Auckland to lead new job growth across New Zealand
Almost 94,000 new jobs are anticipated in New Zealand over the next two years, especially in Auckland.
However, unemployment will decrease slowly to about 5.4 per cent, reveals Government forecasts. New Labour Department projections imply slow but steady job growth, reports Auckland Now.
Unemployment is still high at 6.3 per cent, compared to 2007. The unemployment rate was predicted to move back below 6 per cent this year and to 5.4 per cent by Spring 2014. The Labour Department’s new report is forecasting employment to increase by about 93,700 (4.2 per cent) by March 2014. The forecast is based on economic predictions by the Reserve Bank.
Job growth is projected to be the biggest in Auckland, led by growing retail and wholesale commerce, and in Canterbury, with construction work, including rebuilding the city starts after the earthquakes last year. Nationally, less skilled jobs are estimated to account for over a third of the jobs predicted, mainly in areas including food processing, shops, farming, hotels and building.
The Department's forecast, also predicts employment will increase gradually, by 1.8 per cent (or 39,600 jobs) over the next year and by 2.4 per cent (54,100 jobs) over the following year.
However, unemployment will decrease slowly to about 5.4 per cent, reveals Government forecasts. New Labour Department projections imply slow but steady job growth, reports Auckland Now.
Unemployment is still high at 6.3 per cent, compared to 2007. The unemployment rate was predicted to move back below 6 per cent this year and to 5.4 per cent by Spring 2014. The Labour Department’s new report is forecasting employment to increase by about 93,700 (4.2 per cent) by March 2014. The forecast is based on economic predictions by the Reserve Bank.
Job growth is projected to be the biggest in Auckland, led by growing retail and wholesale commerce, and in Canterbury, with construction work, including rebuilding the city starts after the earthquakes last year. Nationally, less skilled jobs are estimated to account for over a third of the jobs predicted, mainly in areas including food processing, shops, farming, hotels and building.
The Department's forecast, also predicts employment will increase gradually, by 1.8 per cent (or 39,600 jobs) over the next year and by 2.4 per cent (54,100 jobs) over the following year.
The NZD exchange rates on 23/03/2012 were as follows: GBP NZD = 1.9396, EUR NZD = 1.6217, USD NZD = 1.2223, AUD NZD = 1.2786, CHF NZD = 1.3461, INR NZD = 0.0238, AED NZD = 0.333, MXN NZD = 0.0959, CAD NZD = 1.225, ZAR NZD = 0.1591, RUB NZD = 0.0417, . See today's New Zealand Dollar Exchange Rate