THE VACANCY REPORT

January 2010 Vacancy Listings - Light at the end of the tunnel

New vacancy listings in January 2010 came in at 15,460, a 3% drop from the average of 16,000 per month seen through the second half of 2009. At the same time unemployment jumped to 7.3%.

The drop in vacancy listings was unexpected in a month that is traditionally busy. Vacancies were down 11% on Jan 2009, and were 50% below Jan 2008.

The big jump in unemployment shows that nowhere near enough new jobs were created to absorb the many school leavers and graduates wanting to join the workforce at the beginning of a new year.

However there is light at the end of the jobs tunnel, because Feb 2010 is showing a significant increase in vacancies, and we now have enough data to predict it will surpass Feb '09. This is the first time we've seen vacancy growth over a previous year since early 2008.

We believe the main reason for this sudden growth spurt in vacancies is an improvement in confidence across the board. Employers are now seeing the need to grow their teams, and workers are more confident about looking for a new job.

Sectors with largest declines in job vacancies in last 12 months

This table shows job categories where vacancies have declined by 30% or more in the last 12 months.

It is notable that the staple jobs found in most organisations, such as Admin workers, PA's, IT people, HR staff and Sales Rep jobs, have all suffered.

This explains the high numbers of applicants whenever such positions are advertised.

However we're also seeing good volumes of quality applicants in trades such as registered electricians and plumbers, CNC machinsts, automotive technicians, etc.

Employers who hire staff in almost any sector over the next few months will enjoy the luxury of choice, because of the large pool of available workers.

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GOOD NEWS STORY

Still the Lucky Country
- Aussi vacancies take off

The number of vacancies advertised in Australia has now risen for three successive months. At the same time Aussi unemployment numbers have dropped to 5.3%, down from their high of 5.8% in October 2009.

This is a remarkable result. Australia was the only developed economy that did not enter recession, and now it's the only one with declining unemployment and increasing job vacancies.

This is very good news for NZ. Australia is our largest trading partner and growth in Aussi means a growing market for NZ businesses.

A bouyant Australian labour market also means potential jobs for NZers who cross the ditch, reducing our unemployment, and decreasing NZ benefit costs.

The challenge for the NZ economy will be whether we can grow our job market quickly enough to provide local opportunities before we lose too many skilled workers.

Follow our newsletter in coming months to stay informed on how NZ's job market meets this challenge.

Australia set to prosper with 3% growth - What a worry!

The Reserve Bank of Australia (RBA) sees GDP expanding by around 3.25% in 2010, and about 3% in 2011 and 2012, after real growth of 2% in 2009. Already they are worrying about the ability of their labour markets to meet the growing demand.

The RBA Governor recently commented that while the economy's performance was better than expected, it left the nation with less spare capacity compared to the typical case after a recession.

Dr Nigel Stapledon, Associate Head of Economics at the Australian School of Business, said that the Australian economy is strong, and rapidly moving back to full employment of about 5%, with the annual employment growth rate now at 4%, a pace he said, "cannot and will not be sustained".

This is a problem of course that the rest of the developed world would love to have!

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Solutions

Get the staff you need to grow
- Without the hassles

NetYourJob is NZ's leading online employment service, helping you fill your vacancies quickly and efficiently, and at the lowest possible cost.

We'll create and run catchy adverts for your vacancy on all NZ's top internet job sites, then manage the applications, and advise candidates of their progress. We screen the applications as they arrive, and forward just the best candidates, sorted according to your selection criteria.

Unlike the hassle of listing your own vacancies and dealing with the flood of unsuitable applicants, our service cuts out the admin, delivers just the best candidates, and costs even less than doing it yourself.

Every year hundreds of satisfied employers reap the benefits of our service to fill thousands of vacancies. Give us a call to find out more on 0800 638 968
Read More - What our clients say about our service

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