New Zealand masks recession with record immigration

Wednesday, 12 July 2023

Like Australia, New Zealand is currently experiencing record net overseas migration and population growth:

New data from the Ministry of Business Innovation and Employment (MBIE) shows that the number of people arriving on work visas has been above 15,000 a month for all of this year and above 11,000 a month since September last year.

In first six months of 2023, 105,150 people arrived on work visas, pre-pandemic levels:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.