{"id":105683,"date":"2025-08-30T02:10:27","date_gmt":"2025-08-30T02:10:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/105683\/"},"modified":"2025-08-30T02:10:27","modified_gmt":"2025-08-30T02:10:27","slug":"young-kiwis-flee-to-australia","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/105683\/","title":{"rendered":"Young Kiwis flee to Australia"},"content":{"rendered":"<p>The latest official labour force survey showed that New Zealand\u2019s unemployment rate lifted to 5.2% in Q2 2025, the highest rate since Q4 2016.<\/p>\n<p>New Zealand\u2019s underutilisation rate, which combines unemployment and underemployment, also surged, indicating a significant surplus capacity in the labour market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-spare-capacity-1.png\" width=\"660\" height=\"560\" alt=\"NZ spare capacity\"\/><\/p>\n<p>On Thursday, Statistics New Zealand released its filled jobs survey, which rose by 0.2% in July, stronger than expected.<\/p>\n<p>Advertisement<\/p>\n<p>However, as illustrated below by Justin Fabo from <a href=\"https:\/\/www.antipodeanmacro.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Antipodean Macro<\/a>, prior outcomes continue to be revised down:<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-filled-jobs.png\" width=\"717\" height=\"629\" decoding=\"async\" loading=\"lazy\"\/><\/p>\n<p>Employment was down 0.2% in the three months to July, with the level of employment also down 0.7% annually.<\/p>\n<p>Advertisement<\/p>\n<p>Wage growth in New Zealand has also collapsed, reflecting the surplus of jobs:<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-wages.png\" width=\"660\" height=\"562\" decoding=\"async\" loading=\"lazy\" alt=\"NZ wage growth\"\/><\/p>\n<p>Meanwhile, job ads have fallen sharply from their post-pandemic peak but have stabilised in recent months:<\/p>\n<p>Advertisement<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-job-ads-and-unemployment.png\" width=\"660\" height=\"560\" decoding=\"async\" loading=\"lazy\" alt=\"NZ job ads\"\/><\/p>\n<p>As illustrated below by major bank ASB, New Zealand\u2019s youth continue to bear the brunt of job losses.<\/p>\n<p>Heavy annual falls were still evident for the 15-19 age bracket (-8.5% annually), with hiring down 3.2% annually for those aged 20-24 and down 3.4% annually for the 25-29 age group.<\/p>\n<p>Advertisement<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-filled-jobs-by-age.png\" width=\"624\" height=\"504\" decoding=\"async\" loading=\"lazy\" alt=\"NZ filled jobs by age group\"\/><\/p>\n<p>Young Kiwis are contending with soggy labour demand from employers at the same time as large numbers of mostly young migrants continue to flood into New Zealand, led by arrivals from India:<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/NZ-migration-by-citizenship.png\" width=\"587\" height=\"486\" decoding=\"async\" loading=\"lazy\" alt=\"NZ net migration by citizenship\"\/><\/p>\n<p>Advertisement<\/p>\n<p>As a result, New Zealand is experiencing a large outflow of citizens to Australia, where job prospects are significantly brighter:<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/1756519822_293_NZ-net-migration-to-Australia.png\" width=\"660\" height=\"528\" decoding=\"async\" loading=\"lazy\" alt=\"NZ net migration to Australia\"\/><\/p>\n<p>The one area where New Zealand offers greater hope to young residents is housing.<\/p>\n<p>Advertisement<\/p>\n<p>Unlike Australia, New Zealand house prices have fallen heavily from their post-pandemic peak and are tracking at around late 2019 levels in real terms:<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/1756519824_388_NZ-Real-house-prices.png\" width=\"660\" height=\"568\" decoding=\"async\" loading=\"lazy\" alt=\"NZ real house prices\"\/><\/p>\n<p>Rents as measured by newly lodged rental bonds have also fallen in New Zealand:<\/p>\n<p>Advertisement<\/p>\n<p><img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/1756519827_229_NZ-rents.png\" decoding=\"async\" loading=\"lazy\"\/><\/p>\n<p>Superior housing affordability should logically make New Zealand increasingly attractive to younger cohorts and should eventually help stem the loss of Kiwis to Australia.<\/p>\n","protected":false},"excerpt":{"rendered":"The latest official labour force survey showed that New Zealand\u2019s unemployment rate lifted to 5.2% in Q2 2025,&hellip;\n","protected":false},"author":2,"featured_media":105684,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-105683","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/105683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=105683"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/105683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/105684"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=105683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=105683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=105683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}