NZ labor shortage

NZ labor shortage 2007-08-29

New Zealand's labor shortage continues

A new government report states that New Zealand's labor market will remain tight during the next year as the skilled worker shortage continues to get worse. The working age population is growing at only 0.2%, while unemployment is down to 3.6%. Companies have been raising salaries in an attempt to attract and retain employees. The report acknowledges that many New Zealand companies are having a difficult time finding qualified staff. In order to bolster the economy, the government has raised interest rates three times this year in an attempt to slow spending and to fight inflation.