People leave New Zealand in record numbers as economy bites

People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high, and economic growth is weak, according to government statistics. Data released by Statistics New Zealand shows that 131,200 people departed New Zealand in the year ended June 2024, the highest on record for an annual period. Around a third went to Australia. Economists expect net migration to decline as the number of foreign nationals wanting to move to New Zealand decreases due to the softer economy. The data shows that a significant number of citizens are leaving, almost double the pre-pandemic levels. Some New Zealanders are frustrated by the cost of living, high interest rates, and limited job opportunities, leading them to look for options in Australia, the UK, and elsewhere. New Zealand’s economy is struggling, with low growth, rising unemployment, and high inflation. Australia’s recruitment efforts in sectors like nursing, policing, and teaching, where skill shortages exist, are attracting New Zealanders who do not require visas to work there. Meanwhile, the New Zealand government has downsized the country’s public service, leaving many skilled workers searching for employment.