Immigration To New Zealand Surges After Pandemic Lull As Immigration Hits All-Time High: New Zealand has experienced a record high in immigration numbers, helping employers fill job vacancies but also causing pressure on the housing market, according to economists.
Statistics New Zealand recently released figures showing that the net number of immigrants was about 110,000 for the year ending in August, surpassing the previous high of 103,000 set a month earlier.
It marks a significant turnaround after many people left New Zealand during the COVID-19 pandemic.
Jarrod Kerr, the chief economist at Kiwibank, stated, “We are talking very, very big numbers for a small economy like ours.”
He suggests that this surge reflects pent-up demand that had built during the pandemic, and it has come as a relief to employers who struggled to find skilled workers to fill vacant roles last year. New Zealand’s unemployment rate is relatively low at 3.6 percent.
However, Kerr warned that the migrants would require a lot of resources, including tens of thousands of homes, which are in short supply.
The data shows that most immigrants came from India, followed by the Philippines and China.
During the year, the total number of immigrants reached 225,000, and the number of New Zealanders leaving also reached a near-record level of 115,000.
The figures also included a net loss of almost 43,000 New Zealand citizens, many of whom were lured to Australia with offers of better pay.
Under a joint agreement, Australians and New Zealanders can live and work in either country. Kerr said, “Unfortunately, we lost some qualified, talented, trained, and smart people. That is something that bothers us.”
Although immigration has not been a significant campaign issue, the figures were released three days before New Zealand’s general election. Both main parties have focused on the high cost of living, tax cuts, and crime.
So, it is all about Immigration To New Zealand Surges After Pandemic Lull As Immigration Hits All-Time High.
For more information, keep visiting Course Mentor.
Source:- economictimes.indiatimes.com
