Understanding the Challenges in 2024
In 2024, job seekers in New Zealand and Australia face a challenging market. The year started with a promising hiring pace, but by mid-year, New Zealand experienced a significant slowdown. Australia is facing a milder downturn, though hiring overall has declined this year compared to last. This is the feedback I am getting from both employers and job seekers. Supporting this, the New Zealand Treasury Department reports that unemployment is expected to rise from 4.3% to 4.9% due to economic stagnation. As noted in their August 2024 Economic Update, “The labour market likely eased with weak economic activity, indicating a rise in unemployment” (Treasury Economic Update, August 2024).
What’s Causing the Job Market Slowdown?
The economic environment, marked by inflation and recession concerns, has led employers to be cautious with hiring. Many businesses prioritize local hires due to cost and efficiency considerations, while foreign job seekers face delays due to visa processing times and other administrative requirements. According to Talent International, “candidates are seeking higher salaries to compensate for [inflation], yet organizations are driving cost-conscious decisions,” slowing hiring in sectors like project services where budget constraints are common (Talent International Employment Trends).
For foreign candidates, these delays can mean waiting weeks or even months for visa decisions, which has become a deterrent for employers in less urgent hiring situations. This added complexity has tempered hiring momentum, making it essential for foreign job seekers to understand the impact of visa policies on their job search.
The Upcoming Opportunity: February and March 2025
Despite the current hiring challenges, February through March 2025 offers a promising window for job seekers. This period aligns with the new business year when many companies assess staffing needs and begin hiring for long-term roles. Given stabilizing economic demand, the Treasury anticipates gradual recovery, making early 2025 an ideal time to seek opportunities (Treasury Economic Update).
The Best Position For Any Job Seeker
No matter the economics of the state, industry leaders at the top of their game will remain in prime position for faster hires and higher salaries. The key is to make complex skills easily understandable at every stage of the hiring process. Talent International confirms, “while ‘we have seen the cooling of salaries across many job families, hard-to-find niche talent will always test the top end of what the market has to offer” (Talent International Employment Trends).
Positive attitude is a force in itself, but doesn’t replace good preparation.
Strategic Suggestions for Job Seekers
Engage Directly with Industry Contacts
Establishing direct communication with hiring managers provides invaluable insights into specific needs and hiring trends. This feedback better positions you for upcoming job interviews, as industry contacts can share insights on skills in high demand and potential hiring opportunities.
Leverage December’s Relaxed Atmosphere for Networking
Employers are typically less busy in December, making it an ideal time to connect and gather information that may lead to applications in the new year.
Prepare for Peak Hiring Season in February
January is perfect for reviewing your profile and gathering feedback. In February, the peak hiring period, prepared candidates may see response rates of two responses per hour of outreach effort. Success varies based on availability, industry, and individual motivation.*
* Note: different inddustries have different seasons. Example: for Teachers, the biggest hiring period is for Term 1 start. This is happening now. February will be too late for them. There are also many agricultural seasons. If your market has seasonality, take that into account.
Focus on Feedback to Gauge Market Positioning
Collecting feedback from at least ten hiring managers provides insights beyond general market advice, helping you understand where you stand. If you aren’t receiving personalized feedback, this may be a sign to seek professional guidance. Direct responses from employers are the gateway to job interviews.
Showcase Your Unique Skills and Value
Employers remain open to hiring foreign candidates with scarce skills. Emphasize your expertise and how it fills gaps in the local market, as this can make you a competitive candidate in Australia or New Zealand.
Conclusion
Though the current market is tough, opportunities will come for those prepared to engage strategically. By staying informed, building industry connections, and timing your job search with hiring cycles, you can increase your chances of success. Stay resilient, and focus on the early 2025 hiring season, as it may be your perfect window for a career opportunity in Australia or New Zealand.
Employment for Immigration to New Zealand, Australia and Beyond 