WELLINGTON, New Zealand >> New Zealand’s immigration levels have hit a record high, helping employers fill jobs but putting pressure on the housing market, economists say.
The net number of immigrants was 110,000 in the year to August, beating the previous high of 103,000 a month earlier, according to figures released Wednesday by Statistics New Zealand. The figures represent a big turnaround after more people left New Zealand than arrived during much of the COVID-19 pandemic.
“We’re talking about very, very big numbers for a small economy like ours,” said Jarrod Kerr, chief economist at Kiwibank.
Kerr said the increase probably reflected pent-up demand that built up during the pandemic. He said it had come as a relief to employers who had struggled to find skilled workers to fill vacancies over the past year.
New Zealand’s unemployment rate remains relatively low at 3.6%.
But Kerr also warned that the migrants would require a lot of resources, including tens of thousands of houses – something that remains in short supply.
The figures show that the largest number of immigrants came from India, followed by the Philippines and China. The total number of immigrants reached a record 225,000 during the year, while the number of New Zealanders leaving the country also approached a record 115,000.
The figures included a net loss of almost 43,000 New Zealanders, many of whom were lured to Australia by offers of better pay. Under a reciprocal agreement, New Zealanders and Australians can live and work in either country.
“Unfortunately, we are losing educated, intelligent people,” Kerr said. “That’s something that concerns us.”
The figures were released three days before New Zealand’s general election, although immigration hasn’t been a major campaign issue. Both major parties have focused on the rising cost of living, tax cuts and crime.
