New Zealand plans to attract 120,000 workers next year to fill businesses that lack manpower
21 Aug. Archyde.com New Zealand’s immigration minister Michael Wood said New Zealand would temporarily change its immigration rules. It aims to bring in 12,000 workers next year with the Working Holiday Scheme to fill the labor gap. As businesses scramble to find employees.
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The measure came as the unemployment rate stood at 3.3 percent in the second quarter. in which wages rose 3.4 percent year-on-year. This is the fastest increase in 14 years.
Mr Wood stated in a statement that “These measures will provide urgent relief for businesses hardest hit by global labor shortages,” adding that the Working Holiday Scheme aims to double the workforce of 12,000.
Visa holders who work in some parts of New Zealand will be granted a six-month extension to maintain their workforce in the country.
Wage laws will also be relaxed for skilled migrants in sectors such as aged care. Construction and Infrastructure Meat processing, seafood and adventure tourism
“Labor challenges exist at all skill levels and sectors. New Zealand is not alone in this problem,” Wood said.
Labor shortages are part of a global trend that drives wages in New Zealand. This is a challenge for the Reserve Bank of New Zealand to combat inflation. It raised its official cash interest rate 50 basis points to 3.0 percent last week. This is the seventh straight interest rate hike to curb inflation. And the cash interest rate has been raised to the highest level since September. 2015
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