Hello and welcome to the details of Record exodus from New Zealand as unemployment rises, economic growth stagnates and now with the details
Nevin Al Sukari - Sana'a - While net migration, the number of those arriving minus those leaving, remains at high levels, economists also expect this to wane as the number of foreign nationals wanting to move to New Zealand falls due to the softer economy. — AFP pic
WELLINGTON, Aug 13 — People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anaemic, government statistics show.
Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an annual period.
Around a third of these were headed to Australia.
While net migration, the number of those arriving minus those leaving, remains at high levels, economists also expect this to wane as the number of foreign nationals wanting to move to New Zealand falls due to the softer economy.
The data showed of those departing 80,174 were citizens, which was almost double the numbers seen leaving prior to the COVID-19 pandemic.
Merrily Allen is currently planning her move with her partner and 14-year-old daughter in early 2025 to Hobart on the Australian island state of Tasmania
”There is a lot of opportunity over there. They’re always, always looking for people in my profession,” said Allen, who works in dental administration.
”I’ve got a lot of friends that have gone (to Australia) ... purely because of better work opportunities, better living. Australia just seems to have it together.”
During the pandemic, encouraged by the then government’s handling of the outbreak, New Zealanders living overseas returned home in historically high numbers.
But the love affair with the country of 5.3 million, is over for some. Economists say New Zealanders frustrated by the cost of living, high interest rates and fewer job opportunities, are looking to Australia, the UK and elsewhere.
New Zealand’s economy is struggling after the central bank hiked cash rates 521 basis points in its most aggressive tightening since the official cash rate was introduced in 1999. The economy annual growth of 0.2% in the first quarter, unemployment rose to 4.7% in the second quarter and inflation remains high at 3.3%.
Furthermore, Australia has been recruiting and offering relocation packages in areas such as nursing, policing and teaching where they have skill shortages attracting New Zealanders, who do not need visas to work there.
At the same time, the New Zealand government has undertaken a significant downsizing of the country’s public service leaving many skilled worked looking for jobs. — Reuters
These were the details of the news Record exodus from New Zealand as unemployment rises, economic growth stagnates for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
