Tuesday May 20, 2008

New migration stats released this morning show no sign of the Kiwi flight to Australia easing.

Statistics New Zealand said that the number of permanent and long term arrivals to New Zealand exceeded departures by just 400 in April.

The net outflow of people to Australia was 30,600 for the year ended April, the highest since 31,000 left in the 12 months to June 2001.

Annual net migration in the year ended April 2008 was 4,700, unchanged from the month before, but less than half the inflow recorded in the previous April year.

Net migrant inflows were recorded for other countries, with 7,100 coming from the UK, 4,200 from India, 3,300 from the Philippines. South Africa contributed another 2,300 immigrants.

A yearly net inflow of 4,700 migrants compares poorly with previous years, where the averages were:

* 9,744 in 2007
* 11,407 in 2006
* 12, 808 in 2005
* 33,326 in 2004


ASB Bank economists yesterday said the expected migration slow down since the start of last year largely reflected the higher number of New Zealanders leaving the country, particularly to Australia, set against a "plateau" in the number of arrivals.

These trends are expected to continue throughout this year and into next. The Reserve Bank expects immigration to stay below 6,000 a year until the second half of 2009.

ASB said that this environment of low net immigration "continues to underpin supply-side labour shortages in the NZ economy".

Our unemployment rate, 3.6 per cent, has eased slightly in the first quarter of this year, but is only just off its record low 3.4 per cent.

These numbers do not include recent high profile mass lay-offs, such as the meat works in Dannevirke and Dunedin, or the marine processing works in Nelson.

(Source NZ Herald)