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Almost 94,000 job openings forecast for New Zealand over two years

03-23-2012 14:38 BJT

WELLINGTON, March 23 (Xinhua) -- New Zealand's employment rate is to rise by 4.2 percent, or 93,700 jobs, over the next two years, according to a new forecast by the Department of Labour released Friday.

The "Short-term employment prospects: 2012-14" report was based on a new short-term forecasting model developed by the department to provide more detailed information on the labor market, said a department statement.

"Overall, our view is one of slow, steady growth in employment. We would also caution that our forecasts are based on current data and actual job growth will of course be influenced by what is happening in the global economy and by the pace of the Canterbury rebuild," said general manager of the department's Labour and Immigration Research Centre Vasantha Krishnan.

According to the forecast, employment will increase gradually, by 1.8 percent (or 39,600 jobs) in the year to the end of March 2013 and by 2.4 percent (54,100 jobs) in the year to March 2014.

"It is important to note also that this projected employment growth excludes job opportunities that will arise as older workers retire," said Krishnan in the statement.

The department estimated the job opportunities as a result of people retiring was likely to be about 50,000 jobs annually over the coming years.

According to the department's forecast, the unemployment rate was expected to trend down slowly over the entire period, to below 6 percent by March 2013 and 5.4 percent by March 2014.

Strong employment growth was expected in the primary processing, construction and utilities industries, and would be strongest in highly skilled jobs, such as managers and professionals.

Opportunities for lower-skilled workers were expected to account for more than a third of the employment growth over the period.

The food processing, retailing, accommodation, agriculture and construction industries were expected to create most of these opportunities.

The government is expecting the rebuild of the earthquake- battered Canterbury region to bolster the country's economy over coming years.

Editor:Wang Lingfei |Source: Xinhua

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