Openings decline while applications per listing remain high, according to report
The average salary offered in New Zealand went up 1.3% to hit a new record high of $73,332 in the final quarter of 2024, according to the latest data from Trade Me Jobs.
Auckland emerged as the highest-paying region with a salary of $76,015, which is also a record for the region.
It surpassed Wellington, the nation's capital, which recorded $75,168 in average salary. Coming in third is the West Coast with $75,069, which reported the biggest average pay increase with 3.8%.
"The West Coast could be considered an unexpected addition to the top three especially given it's one of our smaller markets," said Nicole Williams, Trade Me's Head of Jobs, in a statement. "However, we do see a number of highly paid roles in the region and good salary growth quarter-on-quarter."
According to the report, other locations that also logged new records include:
"It's positive to see Kiwi employers offering competitive salaries to keep pace with inflation and remain attractive," Williams said.
Meanwhile, the report further found a drop in job listings while logging high levels of applications.
Job listings saw a 35% drop compared to the previous year, with Auckland and Wellington recording significant declines of 45.8% and 42.8%, respectively. By quarter, the country saw a 17.2% drop from the previous July to September quarter, with declines reported across all regions.
Williams said the quarterly drop can be partly attributed to the slowdown in the labour market because of the holiday season.
"However, some of the other numbers we see are stark reminders that the job market environment continues to be tough going for job seekers," she said.
The drop in job openings came with high levels of applications per listing, according to the report.
"Applications per listing are up, just over 20% on the same period last year, and 0.4% on the prior quarter with an average of 33 applications per listing," Williams said.
Auckland saw 49 applications per listing, making it one of the most competitive regions for talent. Canterbury came in second with 33 applications per listing.
By industry, retail roles saw the highest numbers of applications, with an average of 55 applications per listing. Hospitality and tourism roles, on the other hand, recorded a quarterly decline of 11.9%, driven by a 22.2% dip in applications per listing for chef roles.
