New Zealand Employment

Expo will help Christchurch rebuild

The Canterbury Employment and Skills Board (CESB) is confident that the recent Christchurch Careers expo held in the city will help employers connect with the staff they need to help Christchurch rebuild.

Over 5,500 job seekers and school-leavers, and 60 exhibitors and employers took part in the careers expo, hosted by Careers New Zealand and supported by CESB.

The CESB estimates a substantial number of construction related jobs will be created in the Canterbury region as the rebuild commences.

"There is huge opportunity for workers, both skilled and non-skilled in the Canterbury region, particularly in the construction sector. The key is creating an environment where both the supply and demand sides of the labour market can meet," says Carl Davidson, CESB chair.

CESB was established with the objective of gaining a thorough understanding of the labour market demands and priorities following the Canterbury earthquakes. It was also set up to influence the immediate recovery, rebuild and long-term recovery plan for the Canterbury economy by ensuring that the right skills are available in the right number, at the right time. "CESB was created earlier this year to bring together all the pieces of the labour market in the region and the recent careers expo is one of those opportunities. This year in particular, alongside the usual young school leavers, a wider range of job seekers attended, taking the opportunity to talk to businesses and industries looking to attract workers."

Canterbury's recovery, rebuilding and future prosperity is strongly linked to the labour market and the ability to determine and meet occupational need.

"The labour market in Canterbury is flexible, responsive and resilient - many sectors continue unaffected. CESB is also working closely with CERA and the Canterbury Development Corporation to provide confidence and certainty on the current and forecast labour market to local businesses and employers.

"What we can confirm is that there is huge opportunity in the region as we move from recovery to rebuilding and prosperity," says Carl Davidson.

The Board comprises members from the Building & Construction, IT, and Health sectors, as well as Business New Zealand, government agencies, tertiary education providers, industry training organisations, and unions.

NZD/USD: Trading New Zealand's Employment Figures | Forex Crunch

Employment figures are important in every country. In New Zealand, they have an even greater impact, as they are published only once per quarter. Here are all the details and 5 scenarios for the reaction of NZD/USD .

Published on Wednesday at 22:45 GMT.

Indicator Background

Q4 2010 didn’t look too good in New Zealand, The unemployment rate reportedly rose to 6.8%, and the more important figure of employment change unexpectedly dropped by 0.5%, when expectations were for a rise.

Q1 2011 was already much better. Despite the devastating earthquake in Christchurch (the second one), New Zealand’s economy stood very firm on its feet. A jump of 1.4% was reported in employment change, and the unemployment rate dropped to 6.6%. Also the figures for Q4 were revised to the upside, with a smaller loss of jobs and a lower unemployment rate. These good results were also reflected in GDP figures.

Various indicators released in Q2 2011 have shown that the economy is marching forward, mostly enjoying the strong demand for New Zealand’s agricultural products. So, expectations are for another improvement, although a moderate one.

The unemployment rate is expected to tick down to 6.5%, and the employment change indicator will likely rise by 0.1%. While the situation is good, the big rise reported in Q1 might turn into some kind of correction now.

We will focus on the employment change figure. This is a more volatile number and has a stronger impact. In addition, the past shows us that these numbers are highly correlated. In other countries such as the US, these figures can offset each other and be quite confusing. On a quarterly basis, like in New Zealand, this is very rate.

Sentiment and levels

The kiwi is still one of the best performing currencies in recent months, and rightfully so . But, the recent days have changed the picture: there are fears of a global slowdown, if not another recession. This weighs on all “risk” currencies, including the kiwi. So, the picture is quite balanced now.

Technical levels, form top to bottom: 0.8850, 0.88, 0.8675, 0.8620, 0.8580, 0.8505, 0.8410, 0.8380, 0.83 and 0.8240.

5 Scenarios

New Zealand Employment Law Guide 2009

Essential New Zealand Employment Legislation

Essential New Zealand Employment Legislation

New Zealand

Economically active population, employment, unemployment and hours of work (household surveys).