Service industries added 4430 jobs in December, even accounting for seasonal adjustment, Stats NZ said today. Photo / Michael Craig
More people had jobs last month than in November, according to new Stats NZ data.
It was the second consecutive month of reported job growth.
The agency’s employment indicators showed 2615 more jobs were filled nationwide.
Service industries added 4430 jobs, up 0.2% from November.
Jobs in goods-producing industries were down by 452 roles, or 0.1%.
Primary industries added 182 jobs, up 0.2% on the month before.
All these figures were seasonally-adjusted, meaning they took into account typical seasonal job variations such as Christmas hiring booms and certain crop harvests.
“There remains volatility month-to-month across the broad industries,” Infometrics economists said today.
“The increase in jobs in December is likely to be revised lower in subsequent releases of employment indicators and could paint a different story. Nonetheless, it is encouraging to see the annual decline slowing to 1.2% with falls in some key industries slowing.
“It will take some time for the effects of easing monetary policy to work through the system to result in material employment growth.
“Households will continue to refix at lower mortgage rates, resulting in increased discretionary funds and higher business revenues – eventually resulting in job creation.”
One provider had an average member balance of about $170,000.