New Zealand Skilled Vacancies Rise 5%, Report Shows

Jan. 22 (Bloomberg) -- A New Zealand gauge of demand for skilled workers climbed in December for a fifth month, adding to signs of an economic rebound.

Demand for skilled workers rose 5 percent in the three months ended Dec. 31, after gaining 1.5 percent in the three months through November, the Labour Department said. The index is based on vacancies posted on the nation’s three largest recruitment Web sites.

Rising demand for workers adds to signs the economy is recovering from a recession that prompted companies to close plants, cut hours and stop hiring last year. Manufacturing expanded for a fourth month in December, buoyed by new orders, and consumer confidence rose to a three-year high, reports showed yesterday.

“Firms will look to restore hours of existing staff before they take on new employees,” the department said in a statement. “We do not expect a substantial rise in the number of new vacancies until later in the year.”

The jobless rate will probably rise to 7 percent by mid- 2010 from 6.5 percent in the third quarter last year, the department said, reaffirming previous forecasts. Skill shortages are likely to emerge as the recovery gathers pace, it said.

The Jobs Online report, which began in November, replaces a previous survey of positions vacant in newspapers, reflecting modern recruitment practices, the department said. The three Web sites are Seek, Trade Me Jobs and the New Zealand Herald, it said.