Our take on the latest Employment indicators (Mon 28 Jun 2021)
Filled jobs up 0.4% (seasonally adjusted) in May
Service sector employment recovers further
Construction jobs rise to over 190k
The key numbers...
- Filled jobs rose further in May to remain above pre-pandemic levels, with a 0.4% monthly rise (seasonally adjusted).
- Most industries have shown continued improvements, with employment in the services sector rising 0.3% from April.
- Tourism based job numbers are still lower than pre-pandemic, but continue to improve as well.
- North Island employment rises have driven the increase in jobs numbers, with Auckland, Waikato, Wellington, and the Bay of Plenty showing some of the strongest changes.
Further jobs recovery in May
Filled jobs, seasonally adjusted
...and our reaction
- Job numbers continuing to improve reinforce the upbeat views of a strong labour market, with expectations for unemployment to continue falling over 2021.
- More people are being employed in key sectors, even as concerns about skills shortages rise across the country.
- Rising construction levels has prompted a further increase in construction jobs, with more than 190,000 people employed in the industry in May 2021, a 5.9%pa boost.
- Comparisons in job numbers continue to be difficult to judge given the effects of COVID-19 and lockdown on the figures, with primary sector employment an area that is difficult to comment on at the moment.
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