Growth in filled jobs fell from 2.8 percent in the December 2007 year to 0.5 percent in the December 2008 year, due to a declining number of filled jobs in the private sector, Statistics New Zealand said today.
This growth rate is the lowest for a December year in the Linked Employer-Employee Data (LEED) series, which began in June 1999.
While filled jobs in the private sector were down 0.7 percent (10,570 jobs) in the December 2008 year, public sector filled jobs were up by 5.5 percent (19,270 jobs). The public sector also had stronger growth in quarterly earnings in the December 2008 year (up 11.1 percent to $16,270) compared with the private sector (up 4.0 percent to $11,700).
In the December 2008 quarter, the worker turnover rate was 14.7 percent, the lowest rate in the LEED series. The rate in the December 2007 quarter was 16.2 percent. Worker turnover rates provide a measure of stability in the workforce, with a lower rate indicating a more stable workforce.
The decrease in worker turnover rate was due to a decrease in the number of employees who have left or joined an employer and an increase in the number of filled jobs.
The LEED quarterly series is published with a lag of four quarters and uses information from existing taxation and Statistics NZ sources to provide a range of information on the dynamics of the New Zealand labour market.
The large size of the dataset allows breakdowns by age, sex, industry, sector, firm size, region, and territorial authority. These breakdowns are available on Infoshare and Table Builder on the Statistics NZ website. For more information on LEED, see the Guide to Interpreting the LEED Data.