2025 has started positively with more roles being released/advertised and more programmes and projects of work looking to kick off. Whilst job cuts in government are still happening, we have now seen a 2% increase. A little bit of optimism is just what we need as 2024 was a very tough year for a lot of people. Whilst we aren’t over the hill yet and many announcements of cutbacks are still happening, there are signs we are turning the corner slowly. Its not going to happen overnight though.

The Reserve Bank will review the Official Cash Rate on the 19th February. The prediction is a further cut to take it below 4%. This will provide more confidence for businesses and individuals with mortgage rates and inflation dropping. Inflation is coming under control which is what is needed in our cost-of-living crisis, however it’s no secret that business and consumer spending is still considered weak.

Government is continuing their path on bringing employees back to the office which aligns with the decrease we’ve seen on job ads that allow flexible work. It’s still being met with negative feedback from candidates which is no surprise.

We are still getting a lot of enquiries from candidates looking to move to Australia. According to Stats NZ, New Zealand’s annual net migration gain continues to fall but the number of departing Kiwis looks to have peaked. The net gain for the year to November 2024 was 30,600. That number was made up of a net gain of 78,500 non-New Zealand citizens and a net loss of 48,000 New Zealand citizens. Meanwhile, the 127,800 migrant departures in the November 2024 year were, provisionally, the highest on record for an annual period, Stats NZ said.

Other sectors that have seen increases include banking and financial services, Utilities, Infrastructure.