In new data by Seek, job advertisements in Aotearoa have declined by 5 percent month-on-month and 22 percent over the past year.
Seek's New Zealand manager Rob Clark told AM the declines seen in the company's employment report for May come after an "exceptional year" in 2022.
"We're seeing a stabilising or normalising of the market. Having said that, you know, we saw construction and engineering jobs increase for the month.
Seek's report shows job advertisements have dropped 22 percent in May 2023 compared to May 2022, it did show a 13 percent increase for applications per job advertisement month-on-month.
Clark told AM's Ryan Bridge that advertised salaries grew at a "very fast rate" with a 4.7 percent increase for the quarter of 2023 compared to the quarter in 2022.
"However, as expected, with job volumes easing off, we're starting to see that rate of growth come down a little bit. So 1 percent increase month-on-month for advertised salary."
Clark said the increase in salaries could partly come down to hard-to-fill roles, which qualify for a high salary, as well as an increase in the minimum wage.
Seek's top 10 industries by job ad volume:
Manufacturing, Transport and Logistics saw a 7 percent drop in May 2023 compared to April 2023, with a 22 percent drop year-on-year.
Trades and Services drop 6 percent in May 2023 when compared to April 2023, with a 21 percent drop year-on-year.
Information and Communication Technology saw no change month-on-month but did see a 36 percent drop year-on-year.
Healthcare and medical increased by 1 percent in May 2023 when compared to April 2022 and drop 15 percent year-on-year.
Administration and Office Support dropped 3 percent month-on-month and 19 percent year-on-year.
Retail and Consumer Products dropped 2 percent month-on-month and 22 percent year-on-year
Hospitality ad Tourism dropped 10 percent month-on-month and 38 percent year-on-year.
Accounting dropped 3 percent month-on-month and 9 percent year-on-year,
Construction increased by 3 percent month-on-month and dropped 19 percent year-on-year.
Engineering saw an increase of 4 percent month-on-month and dropped 16 percent year-on-year.
Watch the video above for more.
