WELLINGTON: New Zealand’s working-age population increased at a slower pace in the third quarter amid signs that young Kiwis are leaving the country for better opportunities and pay overseas.

The number of residents aged 15 years and over who could work rose by 11,000 in the three months through September to an estimated 4,316,600, Statistics New Zealand said in Wellington.

That’s the slowest increase since the third quarter of 2022, when the nation had just opened its borders after the pandemic lockdowns.

Slower growth of the labour pool mirrors evidence that a surge in net immigration is starting to ebb, particularly as citizens depart in response to cooling economic growth that has curbed hiring and wage gains. 

 - Bloomberg