Employment Landscape Infographic

NBR have provided a great infographic summarising the New Zealand Employment landscape as at August 2014. Let’s call this the Employment version of the PREFU (Pre-election Fiscal and Economic Update) suitable acronyms may be left in the comments section.

The Employment confidence score above 100 means that people feel confident about their employment prospects, likelihood of being able to get another job and current job security.  This summation of an index figure of 109 is good. We can only guess what the numbers would have been post GFC!

Let’s call this number, “cautious optimism”. In fact that supports the view we have. Since March clients have been putting on staff in key areas for growth, much of it export orientated. I believe the investment decisions that companies are making now will show up as high growth indicators in next year’s results.

Consumer confidence is also high, driven I suspect by that job security and the fact that the high dollar has given them an opportunity to purchase household goods at possibly never to be repeated prices!

Look at the 7.4% upswing on Construction and Engineering, which you could call “the Christchurch effect”.  Our Farrow Jamieson Christchurch team have noticed the swing from demolition to construction and the effect that his having on high level engineers and project managers. The Auckland skyline is also getting some cranes again!

The small growth in the IT sector is surprising. We have noticed a large increase in demand, as projects that have been stalled for some time have been fired up. Businesses have realised the impact that quality IT investment can make and finding people who can manage implementation is at a premium.

Overall the Pre-Election Employment update is very positive. People are feeling good about their current situation and positive about their opportunities.

Is that how you see it in your business?