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New Zealand, like Australia and Canada, is currently experiencing unprecedented levels of net overseas migration:
The record growth in the labour supply via immigration is beginning to have detrimental impacts on New Zealand’s labour market.
The latest data from SEEK shows that the number of applicants per job has soared in New Zealand and has even surpassed the pandemic peak:
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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.