Salaries have hit record highs and job listings continue to rise, an analysis of more than 78,000 vacancies listed on Trade Me Jobs shows.
Job listings had remained strong and appeared unscathed by lockdown restrictions in the quarter ending September 30, Trade Me jobs sales director Matt Tolich said.
“Following on from a solid first half of the year, we saw a 46 per cent year-on-year increase in the number of jobs advertised on Trade Me in Q3.
“We have seen a remarkable year-on-year increase in the number of job listings onsite since most of the country came out of lockdown, with a 26 per cent year-on-year jump in September alone. In fact, since most of New Zealand entered Alert Level 3, we have seen an average of over 1000 jobs listed on Trade Me every weekday,” he said in a statement on Tuesday.
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Salaries also had a record-breaking quarter with the national average pay reaching $66,106, an 8 per cent jump when compared to the same period last year, Tolich said.
It was the largest yearly increase Trade Me had ever recorded.
Salary growth had been incremental, taking off prior to the country going into Alert Level 4, and not slowing down through lockdown.
Between April and September, the national average salary rose from $64,700 to $67,400.
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Employers were having to reach deeper into their pockets to attract talent in an increasingly competitive market, Tolich said.
“We’re still facing a massive candidate shortage which will not be alleviated until the borders are open again. As the saying goes, money talks. Employers are clearly forking out more to lure and secure talent amidst the widespread shortages.”
The rising job numbers and salaries indicated that employers were feeling confident about the economy. However, job seekers were still in the driver’s seat.
Main centres going strong
Both Auckland and Wellington had a strong first third quarter, with listings rising by 48 per cent and 43 per cent respectively, year-on-year.
They also saw the biggest year-on-year lift in pay, despite being in lockdown for most of the quarter.
“The Auckland region experienced a whopping 12 per cent year-on-year increase in average pay to reach a new record of $72,134 per year.”
It was slightly smaller in Wellington, with a 9 per cent increase, but it continued to be the highest paying region in the country with an average pay packet of $74,182.
Canterbury and Otago also saw listings more than double, by 53 per cent. The Nelson/Tasman region also increased listings by 52 per cent, compared to the same period last year.
IT sector continues to pay the most
The five highest paying roles were all found in the IT sector, Tolich said.
“As we have seen consistently over the previous year, IT roles continued to pay the most. The tech industry is really feeling the brunt of the talent shortage and salaries are skyrocketing as a result.
“The average pay in the IT sector climbed 17 per cent year-on-year in Q3 to reach $129,668.”
Banking, finance and insurance and legal roles also saw big increases in salary compared to last year, with a 15 per cent and 15 per cent rise respectively.
Other sectors that saw average pay increase by more than 10 per cent year-on-year in the recent quarter were accounting, 11 per cent, and construction and roading, 11 per cent, Tolich said.