The economy of New Zealand was ranked first in the social progress Index. The market was intense due to an annual increase in economic growth by 3%. Although there was a slight decrease in both employment opportunities and the economy, the New Zealand government still plans to increase the workforce by 2 %.
This means that the country would need more than 45000 workers every year in the near future. New Zealand has recently announced various job opportunities to rebuild the economic system more strongly. The in-demand skills and job openings include specialization in IT, healthcare, and technology. Further, there are numerous opportunities for workers in a general category, such as construction and trades.
The government of New Zealand has always welcomed people with variant skills in technology and healthcare. However, the government has planned to recruit employees overseas if they fail to accept workers with a shortage of skills. It makes it easy for the right candidate to get an overseas visa. From an Essential Skills Work Visa to a Working Holiday Visa, the opportunities are endless. But if you are confused regarding which visa suits you appropriately, you can book a consultation with our immigration experts. They will clear everything to you.
Building a Skilled Workforce
Managing and investing in different skills has proved advantageous to workers and has also helped build wider societies. With increasing industrialization and changing environment, New Zealand has found it necessary to hire employees who can readily adapt and accept the market's changing needs.
For sustaining a strong economy, the workers should be skilled and highly qualified that truly matches the job requirement in New Zealand. Further, the New Zealand government has announced to build up an effective work environment that can support young individuals to make a refreshing start in their careers.
Actions for Building a Skilled Workforce
- Efficient foundation skills
- Permission for reasonable education
- Opportunities to learn and work at the same time
- Support for workers who have lost their jobs
Skills in Demand
After the pandemic hit in 2020, there has been an overall upgrade in the 'Essential Skills in Demand' in New Zealand daily. Presently, the government of New Zealand has issued a list that covers skills in various areas. The government of New Zealand generates and updates this particular skill-shortage list to recruit workers from overseas.
- Agriculture and Forestry
- Health and life Science
- Hotel management
- Business and Trade/ Finance
- Travel and Tourism
According to the eligibility criteria, New Zealand offers different types of visas to its applicants. A work visa is issued to a person who wants to travel to New Zealand to explore job opportunities. This visa allows an individual to stay in New Zealand temporarily and get employed in the professional ecosystem of New Zealand. Still, some of these visas can lead to a resident visa. A resident visa helps a worker to remain in the country for an indefinite period. Further, he/she can access different state-funded public services also.
There have been many announcements regarding the Essential Skills Work Visa and other temporary work visa extensions. If you don't know whether it applies to your work visa, book a consultation with our immigration experts. They will help you understand each of the minute things clearly.
Important Forces to Revive the Economy of New Zealand
COVID-19 has triggered unprecedented changes across the world. No doubt some of the changes are temporary, but there is a need to adopt various strategies and forces to change the nation's economy and shape in the future.
1. Maintaining employment needs further assistance
As the COVID-19 crises progressed, increasing employment opportunities have become paramount for New Zealand's government. A high-level increase of 10 % of unemployment has been recorded, which has raised both direct and indirect costs prominently. Maintaining employment will help in enhancing productivity to recover the losses that occurred in the pandemic period.
2. Increasing productivity for structural changes in the economy
Increasing the productivity of New Zealand has been as challenging as reviving the economy of the nation. The country has seen a steep downfall in productivity in the past ten years. The government of New Zealand plans to include small business opportunities to enhance the country's economic conditions. The officials also plan to strategize large business scales that can enable real productivity growth. Large-scale businesses will lead to innovations in the global market.
3. Addressing intergenerational discrimination
Recently, New Zealand is dealing with intergenerational inequity along with combating the COVID-19 crises. New Zealand's young generation is dealing with a debt burden related to the COVID-19 health crises. It is clear that younger people have more recovery rate and are efficient in combating the disease. The government needs to address all the discrimination issues that can ensure economic growth and fair society conditions.
4. Tax reforms
Tax reforms have become an integral part of generating fair revenue in the country. Further, it will also mitigate the investment inequality prevailing in the country for the past five years. The taxation issue in New Zealand is a significant concern for economic growth in the last 20 years. There is an urgent need to review the existing taxation reforms to broaden the country's financial perspective. Further, New Zealand tax reforms should focus less on taxing income.
5. Recovery through effective partnership between the public and private sectors
Like other trades, most of the country's citizens want the government to issue a balanced budget so that revenues and expenditures are balanced at the end of the year. This is the best way to recover the existing economy of New Zealand. The significant investments that the New Zealand government has invested will address all the inequalities existing in the country's economy.
With all these provisions in place, the country aims to combat the economic slump endured worldwide due to the pandemic and retain its leading position as a safe and secure nation for indigenous people and immigrants alike.