Migration gain picks up steam in November

After more than a year of net migration losses, the situation started changing, slowly, in recent months. Photo / Michael Craig

The migration downturn appears to be over, with new data showing at least 6000 more people arrived in New Zealand than left the country in November.

Migrant arrivals in November exceeded 18,000 and departures were barely 12,000, giving the county a net gain of 6100 migrants that month.

The Stats NZ data released today showed the net migration trend gaining momentum after more than a year of losses.

From early 2021 to the middle of last year, migrant departures exceeded arrivals.

But in July, that trend started slowly reversing. And by September, the estimated monthly migration gain was 2176 people.

The November data also meant year-on-year statistics were updated.

In the year to November, migrant arrivals were about 98,000 and departures just over 92,000.

The country had a net migration gain of about 5700 people in the year ended November 30.

Migration data can provide insights into the labour force, as more immigrants can mean more people available to take up vacancies in sectors struggling to find staff.

But migration’s impact on worker shortages varies, depending on how many new migrants are arriving to fill skill shortages, and how many are highly skilled employers looking to hire staff in New Zealand.

Immigration can also impact inflation, by driving up demand for housing, goods and services.

But if immigration boosts the overall economy or GDP per capita, that can help mitigate inflation’s onerous effects.

The Stats NZ data released today is provisional, meaning it might be adjusted if Stats NZ receives further information about November migration.

Economist Shamubeel Eaqub told BusinessDesk that the latest figures reflected the easing of visa restrictions in recent months.