DoL Estimates 200,000 New Jobs By 2015

MEDIA RELEASE
9 MAY 2011

DoL Estimates 200,000 New Jobs By 2015

Retail trade, hospitality and business services are likely to lead the way in creating around 200,000 new jobs by 2015, Department of Labour estimates suggest.

The estimates are contained in the Department’s quarterly report, Likely Areas of Growth in Employment Opportunities.
While the February earthquake has dampened short-term business confidence, employment is expected to rise, particularly as the Canterbury rebuild gets underway.

Head of research, Vasantha Krishnan, says the outlook for the primary sector is positive, with agriculture and forestry continuing to be strong.
“While our forecasts for the retail sector contrast with the current subdued conditions, we are anticipating a stronger recovery, particularly in the later years of the forecast period.

“Construction is also likely to exit the doldrums as the Canterbury rebuild gets underway and increased confidence is reflected in greater activity.”
The recovery in manufacturing is expected to continue, led by food, beverage, machinery and equipment production. This will be mostly centred on Auckland.
The largest job increases are expected to be for managers in fields such as information technology, human resources, sales and marketing, engineering, finance, advertising and public relations, retail and construction.

Although skilled workers account for more than half forecast job growth, job growth in lower-skilled occupations will also be strong, particularly for restaurant service workers, salespeople, labourers and vehicle drivers.

Ms Krishnan noted that Treasury is forecasting 4.2 percent growth in the economy in the year ending March 2013.

“By then, we should be starting to see solid growth, which should continue through to the end of the forecast period.”
ENDS

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