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Kiwi jobs growth to slow this year: gov't report

Xinhua, March 29, 2016 Adjust font size:

The growth in New Zealand jobs is set to slow this year before rising again and the unemployment rate will peak next year, according to a government report out Tuesday.

"Employment growth is forecast to ease considerably to 1.7 percent in 2016 from 3.4 percent in 2015," said the forecast from the Ministry of Business, Innovation and Employment (MBIE).

Growth was forecast to recover to 2.1 percent next year and 2.3 percent in 2018, reflecting forecast growth in the gross domestic product, it said.

Steady labor force participation and very strong population growth -- a result of high net migration -- along with modest employment growth would lead to a rise in the unemployment rate to 6 percent in the March quarter next year, compared with 5.3 percent currently, it forecast.

Unemployment would then fall to 5.5 percent in the March quarter 2018, and to 5 percent in the March quarter 2019 as employment growth strengthened and the net migration level slowed.

Tertiary Education, Skills and Employment Minister Steven Joyce said it was encouraging to see "robust job growth" predicted to continue across the country.

"MBIE expects the strongest job growth in construction, hospitality, wholesale and retail trade and business services over the next three years," Joyce said in a statement.

"Though much of the employment growth over the next three years, 57 percent, is projected to be in highly-skilled occupations, opportunities for lower-skilled workers are forecast to account for about 30 percent of growth. The food processing, retailing, accommodation, and construction industries are expected to create most of these opportunities," Joyce said. Endit