Fewer Auckland employers expecting to hire in next 12 months: survey

The number of employers expecting to hire new employees in the next 12 months declined in the latest confidence survey from the Auckland Business Chamber.

Only 32.18% of employers said they were planning to hire new staff in the next 12 months, down from 43% in May 2024.

According to the latest confidence survey, 48.28% of businesses also have no plans to hire more workers, while another 12.64% said they will be reducing their number of employees.

Source: Business Confidence Survey - August 2024

Negative business confidence

The findings come as 66% of employers report negative business confidence, up from 65% in May.

Their top business concerns for the next six months include consumer confidence and demand (64.89%), inflationary pressure and rising interest rates (43.13%), as well as productivity and growth (41.22%).

Fewer than one in 10 employers cited labour market constraints (9.54%) and employment issues (8.40%) as business concerns in the next six months.

Source: Business Confidence Survey - August 2024

Despite this, 43% of businesses said they are expecting New Zealand's economic performance to improve over the next 12 months, a significant increase from 29% in May.

"Despite the overall cautious outlook, there are clear signs of resilience as businesses start to see glimmers of recovery, and there's a growing sense that the worst may be behind us," said Simon Bridges, CEO of the Auckland Business Chamber, in a statement.