Third quarter job growth slows

While September’s general election may have failed to slow car sales, the same cannot be said for the job market, with strong double-digit growth easing in the last quarter. Growth in new job listings was only up a modest 4.8 per cent year-on-year, and well down on the high of 16 per cent growth in the December 2016 quarter. Head of Trade Me Jobs Jeremy Wade said that election apprehension has rippled through the country. “Traditionally during an election we see some effect on the employment market, however greater uncertainty around this year’s general election has hit harder than expected.” Listings from small and medium-sized businesses in particular were lower than during the 2014 election campaign. In contrast to Trades and services’ 4 per cent drop year-on-year for the September quarter, transport and logistics, which can be a bellwether for future economic growth, increased 28 per cent year-on year. “We’ll be watching these sectors closely once a Government is formed. If they continue to rein in their hiring aspirations, then this may have an impact on economic growth for New Zealand,” says Wade.