WELLINGTON, New Zealand: In a recent revelation, New Zealand has witnessed an unprecedented surge in immigration numbers, reaching an all-time high. Economists suggest that this surge is alleviating the pressure on employers to fill job vacancies but is concurrently exerting strain on the housing market.
Statistics New Zealand disclosed that the net number of immigrants for the year ending August totalled an impressive 110,000, surpassing the previous record of 103,000 set just a month prior. This remarkable turnaround follows a period during the COVID-19 pandemic when more individuals were leaving New Zealand than arriving.
Jarrod Kerr, the Chief Economist at Kiwibank, expressed his astonishment at the scale of this immigration influx, especially for a comparatively small economy like New Zealand. He attributed the surge to pent-up demand that had accumulated during the pandemic. Employers, who had grappled with a dearth of skilled workers to fill vacant positions last year, welcomed this surge in immigration. Despite the influx, New Zealand maintains a relatively low unemployment rate of 3.6%.
However, Kerr also issued a word of caution, emphasizing that this significant increase in immigrants will necessitate substantial resources, particularly tens of thousands of homes, which are currently in short supply. The figures divulged that the majority of immigrants hailed from India, followed by the Philippines and China. The total number of immigrants for the year reached a historic high of 225,000, nearing record levels. Concurrently, the number of New Zealanders leaving the country also approached record figures, totalling 115,000.
The data revealed a net loss of almost 43,000 New Zealand citizens, a substantial portion of whom were enticed to Australia by the promise of better pay. Kerr lamented this trend, expressing concern over losing well-trained and intelligent individuals, an issue that weighs heavily on the minds of many.
Interestingly, these immigration figures were released just three days before New Zealand’s general election, though immigration has not been a dominant campaign issue. The main focus of both major political parties has revolved around pressing concerns such as the escalating cost of living, tax reductions, and rising crime rates. Nonetheless, the surge in immigration remains a significant factor in the economic and social landscape of New Zealand.
