New immigration policy to attract foreign workers amidst manpower shortages in New Zealand

Key aspects of the new immigration policy

• New Zealand is going to make temporary changes to its immigration policy, to attract 12,000 foreign workers by the end of 2023
• A six month visa extension will be offered to some of the onshore working holiday makers
• Measures are set mainly to provide direct assistance to those businesses that were hit the hardest by the global worker shortage

Overview:

The struggle for workers is a part of the global trend that has contributed to increased wages in New Zealand, is about to try something new and challenging to the fight on inflation by the central bank. This has raised interest rates in the last week of August to their highest, since September 2015.

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Temporary changes to immigration rules

A Minister has stated that, New Zealand is going to make temporary changes to the immigration rules, to attract 12,000 foreign workers by the end of 2023, with a working holiday scheme specially established to fill the labor gaps as businesses scramble to find staff.

The struggle for workers is a part of the global trend that has contributed to increased wages in New Zealand, challenging something new and difficult in the fight on inflation by the central bank. This has raised interest rates in the last week of August to their highest, since September 2015.

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The Immigration Minister, Michael Wood stated, "Measures are set mainly to provide direct assistance to those businesses that were hit the hardest by the global worker shortage," and also mentioned adding the holiday scheme primarily aimed at doubling intake.

A few other measures include easing the rules on wages for skilled migrants in specific sectors, such as, construction and infrastructure, care of the aged, seafood, meat processing, and adventure tourism.

A six month visa extension will be offered to some of the onshore working holiday makers to have workers now in the country; Wood stated.

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He also said, "The workforce challenges are visible all across the sectors and skill levels, and New Zealand is definitely not alone in this matter."

The measures are said to be implemented as the unemployment rate stood at 3.3% in the second quarter, when wages increased up 3.4% in 2022, rising at their fastest in the last 14 years.

*To get more updates, follow the Y-Axis blog page… In the last week of August, 2022, the Reserve Bank of New Zealand lifted the official cash rate by 50 basis points to 3.0%, in a seventh straight hike to hold back inflation.

Want to work overseas? Get guidance from Y-Axis, the leading Overseas Consultant in Australia.

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