Wellington Economy Faces Growing Labour Shortages

Today’s labour market data showing a significant fall in the unemployment rate provides another strong case to allow increased migration, according to the Wellington Regional Chamber of Commerce.

The Household Labour Force Survey for December 2007 put the unemployment rate at its lowest level in the December 2007 quarter since the survey began in March 1986 and points to continued tightness in the labour market.

“The regional data showed the Wellington market was particularly tight with a significant fall in the number of available people of working age and an unemployment rate (non-seasonally adjusted) of only 2.5%,” said Chamber CEO Charles Finny.

“The data is consistent with the Chamber’s latest survey of business confidence which shows that Wellington employers are finding it harder to find and retain staff.

“Our survey showed that 50% of the companies were finding it more difficult to recruit skilled workers than they were three months ago. Staff recruitment and retention were also listed as the key concerns faced by businesses.

“Immigration rules need to be adjusted urgently to allow increased migration to meet employer demand,” Mr Finny concluded.

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