New report finds nearly half of New Zealanders worried about job security
Nearly half of New Zealanders are worried about job security amid concerns that unemployment will go up next year, according to a new report.
The latest edition of Understanding Aotearoa New Zealand: Cost of Living report from Ipsos found that 47% of people across the country are worried for the security of their jobs.
This includes 34% who said they are "a bit worried" and 13% who are "very worried" for their employment.
According to the report, job security concerns are more evident among women than men.
"This sentiment seems to be particularly impacting women, with 54% worried about their own job security," said Amanda Dudding, Executive Director Public Affairs, Ipsos New Zealand, in a statement. "This could be a carry-over from COVID when we saw underutilisation rates disproportionately impacting women."
Concerns about job security come as 65% of New Zealanders believe that unemployment will go up next year.
"Much of the uncertainty we are seeing in this report is coming from a belief that unemployment will continue to rise in New Zealand this year," Dudding said.
New Zealand's unemployment rate is at 5.1% as of December 2024, according to Stats NZ, up by two percentage points from the previous quarter.
Meanwhile, these job concerns have resulted in slower consumer confidence, according to the Ipsos report.
More than four in five (83%) New Zealanders said they are spending less as a result of job insecurity, adding to cost-of-living challenges that they've been facing.
According to the report, 26% of New Zealanders are finding it hard to manage financially, with 41% believing that disposable income will go down next year.
This comes as 52% believe that inflation will rise in the next 12 months, as the majority also anticipate an increase in household spending, such as:
Food (80%)
Utilities (80%)
Other household shopping (75%)
"This report gives us some insight as to why New Zealanders still see inflation as the most important issue facing New Zealand," said Carin Hercock, Country Manager, Ipsos New Zealand, in a statement.
"New Zealanders are not making the connection between reductions in the official cash rate to an improvement in living costs. Instead, the majority believe that major household costs like groceries, power and insurance will continue to increase in the next six months."
