Employment forecast to grow 47,000 workers per annum

The Ministry of Business, Innovation and Employment has recently released the 'Medium to long term employment outlook: looking ahead to 2026' report.

In summary, the report shows:

  • Employment is projected to grow by 1.8 per cent annually, adding about 47, 000 more workers on average per year to the workforce in the 10 years to 2026.
  • The retail trade, accommodation and food services industries are forecast to show the strongest gain in employment (9,500 workers per year) in the 10 years to 2026. Employment growth will be steady but weaker in the primary sector at 550 workers per year.
  • Employment growth will be strongest for highly-skilled occupations (2.4 per cent or 27,400 annually), and weakest for elementary and semi-skilled occupations (1.2 per cent or 14,100 annually) over the forecast period.
  • Population growth led domestic spending; expanding business services sector; and growth in exports are strong factors driving employment growth over the medium-long term.

Read the full report here.