Employment forecast to grow by 153,000 over the next three years.
The Short-term Employment Forecasts: 2017 - 2020 report was released today by the Ministry of Business, Innovation and Employment.
Some of the key stats from this release include:
Employment across sectors and regions is forecast to grow by 2 per cent per annum or 153,000 over the three years to March 2020.
Highly skilled occupations such as managers and professionals are forecast to grow faster than overall employment growth, at 2.9 per cent or 31,600 per year.
Business services is forecast to make the largest contribution to employment growth, up 33,300, with construction and utilities close behind up 19,400, and health care and social assistance up 15,500.
All regions are forecast to grow over the next three years – with growth strongest in the Auckland and Waikato regions.
Rural regions including Marlborough, Tasman, and the West Coast are forecast to grow at a faster rate, with all summing up to 6,500 more workers to the projected growth in 2020.
Low skilled workers will account for 29 per cent of the overall employment growth by 2020.
The unemployment rate is forecast to decline to 4.1 per cent by 2020.