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    March 2016

    Alchemy of job creation in New Zealand

    For the year to December 2015, New Zealand economy generated 32,000 jobs resulting in the unemployment rate of 5.3%.

    201603-image001

     

    Job creation in the year to December 2015 was not evenly spread out in the country with Auckland generating most of the jobs.

    201603-image002

    The above chart shows that Auckland region created a monthly average of 1,933 new jobs. This would have significant repercussions for the housing and transport sectors in the Auckland region.
    It is interesting to see which sectors of the New Zealand economy generated jobs. Given the housing boom in the Auckland region, it is no surprise to see construction sector producing the majority of new jobs.

    201603-image003

    Construction sector created an average of 2,220 new jobs every month in the year to December 2015.
    Based on the above data, Auckland housing market was the key driver of job creation in the New Zealand economy.

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