Survey Indicates Weaker Job Prospects

Manpower’s New Zealand Hiring Survey Indicates Weaker Job Prospects for Employees in the Third Quarter of 2008

AUCKLAND, June 10/Medianet International-AsiaNet/ -- The Manpower Employment Outlook Survey comprising of 893 employers, released today shows that the employment prospects for New Zealand job seekers have fallen, as we sail through the second half of 2008.

The demands of New Zealand’s employment market appear to be softening in the July - September quarter of 2008, with a Net Employment Outlook of +16% reported. The Outlook represents a decline of 3% points quarter-over-quarter and 12% points compared to last year, and is the continuation of a downward trend from quarter 3, 2007.

According to Catherine Lo-Giacco, General Manager of Manpower New Zealand, ``The decline in the Net Employment Outlook is in line with the fall in business confidence and consumer spending in New Zealand. The decrease in hiring intentions compared to the previous quarter appears to show that hiring managers are hesitant to move forward and take on new staff over the next quarter.’’

``From the survey data, we can see that there is a general decrease in hiring confidence, with more employers in all of the regions hesitant to take on staff over the next three months, when compared quarter 2. The fall in demand is most evident in Auckland, where there has been a considerable 10% point weakening and similarly in Christchurch and Wellington, we are also seeing a decline in employer hiring intentions.’’

``Quarter-over-quarter, employers in all but one of the industry sectors has witnessed a decline in demand, particularly employers in the Finance, Insurance & Real Estate sector and Transportation & Utilities sector, both of which are experiencing levels not seen since the Manpower Employment Outlook Survey started in 2004.

``In the very tight labour market that exists across New Zealand, demand for staff is significantly impacted by the outward flow of domestic talent to other markets, particularly Australia. The skills shortage continues to create very real structural changes in the workforce. This will put a strain on real jobs growth and companies need to employ strategies to ensure they not only hire the right talent, but ensure they have policies in place to retain staff,’’ said Lo-Giacco.

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