- With a net figure of 110,000, New Zealand‘s immigration statistics hit a record high.
- The unemployment rate in New Zealand is still a very low 3.6%.
- A net loss of approximately 43,000 New Zealanders was included in the statistics.
Economists claim that while New Zealand’s record immigration rate helps businesses fill positions, it also puts pressure on the housing market.
Statistics New Zealand issued numbers on Wednesday showing that the net number of immigrants for the year ended August was 110,000, above the previous high of 103,000 established a month earlier. Following a period during which more individuals departed New Zealand than arrived due to the COVID-19 pandemic, the figures show a significant turnaround.
New Zealand Reaches Record High
With a net figure of 110,000, New Zealand’s immigration statistics hit a record high in the year that ended in August, surpassing the previous high of 103,000 established a month earlier. After more individuals departed New Zealand than arrived during the COVID-19 pandemic, there is a notable reversal.
The increase is probably the result of pent-up demand created during the pandemic and is welcome news for companies who were struggling to locate qualified candidates for open positions.
The unemployment rate in New Zealand is still a very low 3.6%. But the resources that migrants would want would be plentiful—tens of thousands of homes, which were still in limited supply.
China, the Philippines, and India were the countries from which the majority of immigrants originated. The year saw a record 225,000 immigrants in total, although the number of New Zealanders departing also approached record heights at 115,000.
A net loss of approximately 43,000 New Zealanders was included in the statistics; many of these individuals were drawn to Australia by promises of higher wages.
