New Zealand changes immigration policy to attract foreign talent amid manpower shortages

Highlights

• The workers have got an increase in wages in New Zealand as part of a global trend to fight inflation that raised interest rates which was considered high since 2015.
• New Zealand to make a few temporary changes to their immigration rules, which are designed to attract 12,000 workers by next year with a working holiday scheme.
• Most businesses are facing difficulties to find skilled workers, and these new temporary changes in immigration can be used to handle global worker shortages.
• The validity of skilled worker visas is extended by at least six months so that they can employ back some of the onshore working holiday workers.

Changes in New Zealand immigration policy

New Zealand pushed up the wages by considering the jostling of workers as a global trend. This was termed as a fight against inflation by the central bank that raised interest rates to the highest since September 2015.

New Zealand has planned some temporary changes to immigration rules to attract around 12,000 workers by next year on a working holiday scheme. This step is taken to fill in the gaps in the labor workforce as employers find it difficult to search for skilled workers.

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These measures of changes furnish some immediate relief for the businesses which has a hard hit by the global worker shortage that the holiday scheme that is used to target double the intake.

 Apart from these, there are some relaxations in wage rules for skilled migrants in various sectors like construction and infrastructure, meat processing, providing care for the aged, adventure tourism, and seafood.

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There are other steps are taken to increase the workforce, the onshore skilled workers' visas have been extended by six months so that they can retain some of the workers in the country.

 Entire global markets and sectors have been facing these workforce challenges, not just in New Zealand, various other countries also are facing a similar problem.

 These measures were planned to initiate when the jobless rate is seen as 3.3% during the second quarter and the wages were up to 3.4% in the same year, rising as the fastest in the last 14 years.

The Reserve Bank of New Zealand uplifted the cash rate by 50 basis points to 3.0%, which is a straight seventh hike to control inflation.

*Do you want to work in New Zealand? Speak to Y-Axis, the world’s no.1 immigration consultant.

Also Read: New Zealand industries struggle due manpower shortages Web Story:  New Zealand, posing a challenge to the fight on inflation