Frog Recruitment’s Post

Transcript

So we've got a couple of employment stats to check out, four New Zealand this week and the first one that we've got when you're considering the the New Zealand labor market is the unemployment statistic. So what we've got here on the screen from Stats New Zealand is the. The unemployment rate broken down between men, women and of course the total. So we're sitting at 4% unemployment in New Zealand and historically still at relatively low numbers. So you can see the peak there for the COVID recession and the pandemic and then the the the, the huge drop and then more recently the more troubled market or economy that we've had has not at this stage led to and major increase. In the unemployment rate and if you wanted to compare it, say across the debts to Australia, Australia's unemployment rate that came out I think just a few weeks ago and it's 4. 1%, that's up from 3.6, so of quite a substantial increase then now New Zealand has a lower unemployment rate than Australia. Now the other thing I thought I'd point out here, because I think this is fascinating and again it's it's the gender pay gap, it's about that difference between the unemployment rate. So clearly there's. More people, more women unemployed than men. And there was actually a decline in the unemployment rate for men, most recently at the end of last year in New Zealand. But what about the gender pay gap? So it's a hot topic, particularly across in Australia, because the numbers were released and the average gender pay gap in Australia is about 14%. There are some companies, particularly in construction and interestingly airlines that are up like 30%. So I thought I would share with you this week, what is that gender pay gap in New Zealand. And so for 2023, the pay gap in New Zealand is 8.6%, so that down from 9.2% in 20229.1 in 21. And when we go back to 1998 for example, we're up at that 16.8%. So in New Zealand over the last 20 to 30 years, we've seen an improvement. In that gender pay gap, whereas over in Australia they're still experiencing on average 14% gender pay gap and here we're at 8.6% in 2023. So it's a pretty good result, but it's also interesting just to break down the unemployment. I've got a question for you and pop it in the comments if you like. Why is it that more women? Proportionately are unemployed than men in New Zealand. What's your answer to that? So I've also got some interesting numbers for you which is on the the best way to describe this is the worker turnover rates. And this again, this is, this is not from Stats New Zealand, but from MB i. e. And I thought this was fascinating and I would share that with you mainly because of the regional differences that we have there. And so on average the the worker turnover rate in New Zealand is 30%. So that what's your turnover in your business. So on average it's 30.4% and so you you can see the breakdown here. So you can see that the graph on the right hand side lots of turnover in 2018, I would have suggested that that was the top of the market, people were feeling very confident and willing to change jobs and now it's dropped down to 30.4. But what's going on in Hawkes Bay? That's what I want to know, because in Hawkes Bay it's 30, it's 36%. That's the top. And then if you hit the, if you go down to Canterbury next, I think it's about 33% and then Auckland is around the the average around 30% turnover rate. What's your, I'd love to know, pop it in the comments, what's your turnover in your organization? Is it 30% or are you more like Hawkes Bay and you're turning over 36%? Very interesting numbers and thanks to the MB i.e. for producing that report every every month.