New Zealand jobs indicator dips for first time in two years

New Zealand jobs indicator dips for first time in two years

 A key New Zealand employment index fell in the quarter to the end of September after increasing for the previous seven quarters, but government labor officials said Wednesday it did not yet indicate a long-term drop.

The Department of Labour's Lead Employment Indicator, a combination of five different indicators that have historically pointed to changes in employment, fell by 0.3 percent in the September quarter.

However, department head of research and analysis Vasantha Krishnan said this would not indicate a downturn in employment over the coming year unless the December quarter figures were also negative

"The indicator is still anticipating moderate employment growth of about 0.3 percent in the December quarter and between 0.2 percent and 0.5 percent in the following two quarters," said Krishnan in a statement.

Separate analysis by the Department of Labour showed the number of skilled job vacancies advertised online fell last month by 3.3 percent and total vacancies dropped by 4.5 percent.

The only main industry showing growth in jobs nationally was hospitality and tourism, with vacancies up by 3.4 percent following increased activity flowing from the Rugby World Cup, which was staged in New Zealand over September and October.

The growth in online job vacancies had been positive over the past year, with skilled job vacancies rising by 10.2 percent and all job vacancies up by 9.4 percent, said the statement.

The Lead Employment Indicator is designed to give advance warning of turning points in employment.

A "turning point" is confirmed with two consecutive quarterly movements in a new direction.

According to the Department of Labour, the average lead time between a turning point and a corresponding change in employment is one to four quarters.

Editor: Xiong Tong

English.news.cn   2011-11-16 11:27:34 FeedbackPrintRSS
WELLINGTON, Nov. 16 (Xinhua)