NZ enters 2025 in technical recession - but will things get better in the year ahead? | Stuff.co.nz

[@gothkidd8712]

I read today in the Hearld that over 800 people were applying for each job at the new IKEA in Auckland. Thats a lot of resumes to sort thru & also shows how bad unemployment in NZ is at the moment.

[@kingnateoh]

People don't sort through cvs, it's done by AI, jeez how long since you applied for a job lmfao

[@thesquire6352]

Don't waste your time with a cv, find the physical address and turn up, employers would rather a conversation and a face to face instead of sorting through 800 cv's even if they say there are no scheduled appointments. just turn up and speak to someone. it's never failed me.

[@WinahhTaylahh]

​​​​​​@@thesquire6352Where are from? the 70's?😂 IKEA isn't exactly your local dairy or 'fly by night' cowboy sawmill plant etc, Everything is done online these days in case you didn't know, they literally won't even look at you if you walk in off the street, especially without a full resume and legit references lol, it's been this way for the last 10-15 years at least with most places, you need to get with it buddy, that world you're on about is long gone now unfortunately.

[@thesquire6352]

@@WinahhTaylahh This doesn't only apply to ikea............have you tried? they all say they wont speak to you but they do, you just need a bit of charm, ive done this as recently as 3 years ago and have got all my jobs this way. Its called standing out. you can play by the rules and cross your fingers but someone like me will come and cut your dreams like grass and take the job.

[@theothomas4287]

And you believe the herald is telling reality? Yes unemployment has gone up however there are still lots of roles available.

[@mcmillanmwilliams1008]

I feel for my countrymen with the struggles there in NZ. We moved to Brisbane 18 years ago because we were sick of living pay cheque to pay cheque and really not getting anywhere in Auckland. Plenty of opportunities here in Australia to definitely make a comfortable life if you are willing to work hard for it.

[@gordonbennett7980]

There is no comparison any longer.Australia wins

[@mcmillanmwilliams1008]

@emmo_93 yeah true, that's where a lot of others coming to Australia see the big dollar signs and take up these causal/contract high paying jobs and then have to look for more work when it runs out Causal/Contract lulls you into false hope chasing that big money that you get use to No paid leave.. Stability is key to survive in this harsh world. Years ago I thought of going to the mines for the big money ..but with 4 young kids things would of tough for the Mrs. We have had friends in causal/contract work they are always looking for work. Casual/contract is good but like all good things it comes to an end. Trying to get a bank loan to get a house banks don't look to favourably causal/contract workers unless you got stacks of cash in the bank. My brother years ago when he first moved to Australia use to do causal work for Workpac..money was good for him but always running out of work. His years of working causal paid off and work ethics..his old site manager got him a permanent position at Multiplex. Now my bro earns more than I do and I'm a qualified tradesman. Life is tough in NZ and I don't think high fuel prices ,road user charges ,WOF is going to go away anytime soon. Yes fuel prices go up here as well but not as much as NZ. At least the wages here keep up with inflation and cost of living. Where as years ago living in NZ I was working twice as hard because there are no penalty rates ...I work in the same trade here in Australia I get time and a half and double time on penalty rates. Props to those that have moved back or who still live in NZ...it's not an easy gig...the struggle is real. Forever 275.

[@emmo_93]

@gordonbennett7980 except the fact Australia is run by a communist labor government

18 years ago would've been before the property values began spiralling our of control though. And not everybody can live in Brisbane. It's humid and much of it is a really dull cultural wasteland.

[@Losandi_2025]

It is not the jobs market that is in such terrible shambles, its the lack of Gov incentives toward business to help stimulate the economy as a whole.❤

[@bobolulu7615]

You mean trying to find billions upon billions of dollars to pay back Labours borrowed money. There are plenty of incentives for business, but if people are not buying, then there is no business. Online shopping has a hand to blame as well. I hardly buy from shops these days.

[@malcolmWaite-g4t]

@@bobolulu7615 the interest is about 3.4 billion, the interesting thing is, the tax cuts amounted to 13 billion add on rebates coming for landlords at another 3-4 billion which this Government lent to do, labours debt is mainly held by the reserve bank, basically an accounting entry, it's not held by the secondary bond market, which is good due to our falling dollar, over time the reserve bank transfers back to a subsidiary of treasury amounts of 5 billion , we are a fiat currency Government and the reserve bank puts money into the economy or takes it out to determine economic activity , the country's debt has nothing to do with what is happening this is mainly by choice.

Nicola Willis does not understand macroeconomics. She thinks that running a country is about balancing the books, like running a private company (microeconomics). Running an economy is far more complicated, and more about trying to maximise the amount of economic activity/money in circulation.

[@lacey8228]

Nz is stuffed

[@theothomas4287]

Yeah nah. We were with Labor in however this coalition is making some hard decisions and things are starting to turn around. It’s a long road to travel however things are slowly improving. If however you don’t want to work and want to sit on a benefit ( I am not including those that are unable to work because of a disability) then yes life will be tough however we all have choices in life.

[@ahorrell]

..... aaaaaaand now my partner and I are currently looking at jobs in Aussie

[@DillonAlderson-gr7st]

My wife and I moved to Perth 10 months ago and we are loving it 😊

[@cmh833]

Moved to Perth 9 years ago my partner and I both in fifo paid our $300 000house off in that time Loving financial freedom

[@kiatupato182]

It appears NZ is cooked❤ time to get Survival Kits up to date.

[@boomertuxx]

Heck yea

[@theothomas4287]

If Labor had remained in government then yes we would have been cooked as you mention. However we have a coalition in government who is making some hard decisions and things are improving whether people believe it or not.

[@jasoncarey1944]

Brad is Nationals man trying to talk it all up things are going to get a lot worse in 2025.

[@gordonbennett7980]

How bad can it get.Have a look at the parliament 😢

[@craigbennett4553]

Inflation hasn't stopped at all,more gaslighting,prices in super markets are still going up??!!

[@chiqcpomare7803]

Yeah where does he buy his groceries? Prices are going up nearly every week drip and drabs! Petrol goes up and down .

[@saregama-r8td]

250k unemployed adults.......

[@jeff230394]

New opportunities await

[@thelostgeneration2000]

And this number will go up for the next six months. Terrifying

[@featuringrageyt3103]

Yeah and I thought AI was the future I mean don't stakeholders need to make money for robots 🤔 I no NZ has a few but not many yet otherwise NZ might end up getting left behind as a low class country

[@kingnateoh]

Most by choice 😂

[@thinking102]

6k in the public sector from wellington alone AND GROWING. IDIOTS RUNNING THE SHOW rambling about costs while living in luxury " face it, I'm sorted, I'm rich " Luxon ZB 2024...

[@dianabanana08]

So many businesses closed last yr. Even bigger ones. Idk what to feel

[@Homegrownmusic591]

Its going to be a hard year for nz as we are very dependant on the world trade situation amd can only follow the downward trends of global markets as they slow down. Eventually the government will have to increase borrowing to sustain the basics and keeps things moving. Infrastructure spending will decline across most businesses due to tight margines and reduce staff continually as demand declines for anything except basics. Lots of juggling happening to fill gaping holes in health. Less service's available. It will look amd feel more like a depression than recession. Because countries have been printing vast amounts of money tje value of many things will decrease except food and things that matter which will go up. Supermarket rashioning could be a possibility as things get harder to source.😊

[@yesterday1396]

There is no future for kiwis under national. Come to Australia you will not regret it I promise you.

[@marilynschmidt6400]

So true as long as you have somewhere to stay or you'll be homeless. Also apparently the NZ Defense Force is a liability to our neighbors 🙄

[@TC8787-yq7og]

Some people don’t want to abandon their friends and family

@@emmo_93 _"A competent national government"_ Oh yeah like finance minister Nicola Willis with her amazing English literature degree. How much more billions is she going cost NZ with her completely needless and petty playing around with the ferry acquisition? So competent hahaha...

[@mcmillanmwilliams1008]

@@TC8787-yq7og one of the toughest decisions we had to make. when moved to Australia. But with our 2 young girls at the time we were thinking of their future and made the sacrifice to leave family and friends our support network. I tell you it wasn't easy those first few years.

[@DillonAlderson-gr7st]

I 2nd this comment. Kiwi living in Perth

[@PeterMay-v5m]

In my day an economist was called a soothsayer or chicken little and no accountability now they look at the past and try to predict the future much the same as politicians very little creditability will we ever be told the truth

[@B1zzymm]

Coalition of chaos created chaos for most.

[@EnocksonFerrall]

I don't know who needs to hear this, you've got to stop saving money. Invest some part of it, if you really want financial freedom.

[@malcolmwebster1174]

More New Zealanders coming to Australia in 2025 ?

@@emmo_93 So can you name these big tax hikes that the Albanese government have introduced, and their effective date, Emerson?

[@malcolmwebster1174]

What has this got to do with thousands of New Zealanders coming to Australia ?

@@malcolmwebster1174 I was responding to this guy called "Emmo 93" who posted a reply here which claimed that in Australia; the Albanese Labour government have made everyone pay all these new taxes. All of his posts on this video have since mysteriously disappeared.

@@malcolmwebster1174 I was replying to a guy whose comment has since vanished.

[@PhoenixsWorldVideos]

"skills mismatch" were they not employed before though?

[@TheFalconerNZ]

Labourers are not skilled in computer skills, qualified for low or middle management positions or suited for service jobs like sales personal. Same goes for many jobs, office workers are not suited for labouring jobs as they don't have the required skill, sales staff don't have the computer skills to work in IT.

[@Losandi_2025]

NZ will be in a perpetual Economic Crisis from now until the end of time. Continued failed Gov Policies & decisions. No long term economic forcast, high labour market shortages, low income & wages, very little relief for those in need of positive news. ❤

I take it you're an economist?

Your profile says you're from Australia. What would you possibly know?

[@TheFalconerNZ]

Not an economist but in the last year since I was made redundant at 62 I have been doing a lot of research for a job & into the economy both in New Zealand & internationally as I can't afford petrol to even go out & visit friends so little else to do. What I have learnt is that economies worldwide are struggling & the 2 main reasons are 1- in 1971 Nixon broke the link between the value of the US dollar & the value gold creating a FIAT Currency Economy that means money no longer has any real value & allows governments to print worthless money to keep the economy afloat & 2- the economic model was created for an economic system that no longer really exists any more so no longer viable.

[@malcolmwebster1174]

You seem to be very anti - Australia in all of your views. Do you see Australia as a threat to New Zealand ?.

[@garyladyman2642]

A lot of new expensive vehicles where I live, no recession here.

[@Youknowwhatyouknowbro]

Well it is turning into a 3rd world country so it is to be expected

[@TC8787-yq7og]

I’ve lived all over the world, NZ is not turning into a 3rd world country

[@KiwiGuy-t4u]

depression coming

[@kingnateoh]

Watch out guys, this guys been on KZbin 🙄 probably doesn't even own a single stock option 😂😂😂😂

[@danieleyre8913]

@@kingnateohYeah because if there’s one thing that makes me know if someone knows anything it’s if they own a stock option (sarcasm)…

[@StardollCheated]

Were already in it

[@TheFalconerNZ]

@@kingnateoh KZbin gives you the headlind, the internet gives you the facts. Depression Is coming. And trading money to make money DOES NOT help economy, it adds to inflation by creating more worthless money. Explain to us how buying a million barrels of oil pushing up prices just to turn around & sell it all to make yourself richer helps create extra value to the oil & doesn't add to inflation because oil now costs more yet no real value has been added to the oil. Yes it makes the economy look like it is improving & creating wealth for the country but it is valueless wealth in the grand scheme of things created from nothing.

[@danieleyre8913]

@@Bubonica-AOE We’re in a recession.

[@JD-wx3pk]

Inflation is a pernicious tax, everything goes up and irrespective if the RBNZ lowers it, everything that went up stays up.

[@aidenwarrington]

I feel like we're gonna have a lot of work to do if the economy's gonna go green.

[@thinking102]

And your not mentioning when AI continues to remove 1000s and 1000s more jobs which has begun... Tick tick tick matter of time....

NZ ever go green? Hahaha you're dreaming, we're one of the least green societies on earth! We overindulge in automobile dependency, we usualy go for the cheapest disposible crub instead of paying a bit more for lasting quality, we've made bovine Dairying a major moneyspinner, etc. The only reason why we look so clean and green superficially is because we're so underpopulated.

[@TheFalconerNZ]

By green I think he means run at a surplus & not a deficit.

[@TheFalconerNZ]

@@thinking102 Agree 100% which is why we need to dump our current economic model for another one as in an Hour based economy or a Resource based economy where making money is not the object of the economy but managing resources to their most efficient is the objective because AI & Robotics will take over all work eventually & only managers (directors really) will be needed to control the machines.

@@TheFalconerNZ Governments should usually aim for balanced budgets. Running too many surpluses ends up devaluing the currency.

[@32f32f]

recessions for 5 years haha

[@jermunitz3020]

I made 40% on US stocks. Great year🎉. NZ is stuffed as long as the economy is only about housing because housing can't keep rising forever.

[@nick9396]

Nah, I reckon end of 2025. Takes ages to get the wheel turning again, plus the wage to inflation everyday living ratio is way off. The money I make today, I made 12 years ago in America

[@WinahhTaylahh]

NZ isn't America, it's not even close to Aussie as far as population and the national economy goes😂

@@WinahhTaylahh And Australia isn't close to America as far as population and the national economy goes.

[@stevecooper9896]

Reccession depression collapse, aye...

[@kingnateoh]

Perfect time to average down and buy 😉

[@DOCTRJ]

And foreign competition!

[@mrslushydaminator4974]

always gonna be earth to move

[@chiqcpomare7803]

So with Americas decline and brics weakening US power , what does that mean for us here? And I came across a podcast saying Aotearoa ( NZ) is going to join?

[@kingzkidanthony3073]

funny all the typical nz pessimistic attitudes hoping for salvation in Australia. Good Luck New Zealand need people with imagination.

If Liberal win the next Australian election: Peter Dutton might send them all back anyway.

[@mariskakolesky2121]

I'm not saying National is perfect. They have their issues too. But you'll have to look far and wide to find a party as disasterous as Labor.

[@ggggg-qw7hl]

I dont have to look very far and wide for Nats to consistently be terrible in their approach. Disastrous as you put it.

[@mariskakolesky2121]

@ggggg-qw7hl I take it you're for Labour. Well there's no law that says you have to be right. You just have to look back at the Labour party's rule to see how "disastrous" they were.

[@ggggg-qw7hl]

@@mariskakolesky2121 You foreign? this sentence is super strange lol. Yes there is no law I am supposed to be right? that would be weird???? Havent voted Labour since 2014, just aware of history; national have sucked previously and this is a worse term so far than under Shipley or John Key. Luxon is weak leader and the policies they have enacted have further entrenched NZ into recession. Nicola Willis is a disastrous finance minister. We are in the mess because of successive governments both labour and national who bury their heads in the sand. You're just being naive if you think nats are better in any way than labour. Plently of examples of nats being stupid and corrupt.

[@mariskakolesky2121]

@ggggg-qw7hl Show me a government that's not corrupt. Yes as I said, National's not perfect. But you have to admit, if we had another 4 years of labour. We would be in deep... You know what. National is better than the alternative. I also didn't like the way National sold off land. Still better than the alternative. Your lack of understanding to me clearly being sarcastic is perplexing. If you are genuinely baffled then I'm glad to broaden your horizons. 🙂 Though I will agree that the party isn't what it could be. The fact that they were contemplating raises when they had hardly started was a cheek. I'm just glad we didn't get 4 more years of Labour. That's all I'm saying.

[@kelbatt7729]

@@mariskakolesky2121 Our parliamentary terms are three years.

[@GordonSargon]

No recession at lotto

[@Club98000]

“Could be” 😂

[@druckerman247]

nz will not get out of this hole. The economic damage executed over the last 4+ years has been irreversible. The lack of substantial private enterprises on a scale that could see nz through, will be the completion of the devestation.

[@malcolmWaite-g4t]

not correct, this has been created through choice by this currant Government, you forget under key debt went up by 8 times, there is a structural deficit between tax received and outgoings, slowing the economy by choice only exuberates the problem, the reserve bank slowed the economy the coalition did the rest.

[@odinsfire1409]

What about Labour's Kanga Ora debt. About b$11 isn't it?

[@Troy13]

Privatization incoming

[@kahuswanson9696]

@@Troy13 at least it will be efficient

[@Troy13]

@@kahuswanson9696 thats being optimistic. The only thing guaranteed is profits for shareholders.

[@sheisleeaddams]

LOL Yeah, Riigght!

[@HandleJandel]

Society directs too much taxes toward fake comfort job creation instead of addressing citizens' real tangible needs. While some reject old economic models due to feelings of vulnerability and dependence, the current model, reliant on constant borrowing, is unsustainable. Dependence on the government may soon be riskier than reliance on marriage and children, even though it’s been stable for several decades. This may not be what many women want to hear, but I genuinely believe it reflects the current situation in Western economies. A dominant voting majority has increasingly prioritized comfort and lifestyle for themselves over society’s broader needs and responsibilities. The capital to restore New Zealand as a first-world economy exists, but it’s tied to directives that consistently yield less than the input capital allocated. Decades of ideological propaganda have forced us to claim this is economically good, though it clearly isn’t. It’s humanitarianism, not production, and should be separate from economic policy. Just a few years ago, voicing this might have been nearly illegal, and even today, it’s heavily frowned upon. Reallocating this idle capital is inevitable because there’s no other ocean of capital large enough to plug the hole and update our aged, worn-out assets (public and private). Without modern assets, we can’t compete globally, sustain long-term growth, or avoid becoming a third-world country. They have to go rip sht or bust through overregulation and public administration sectors, or the whole system will collapse. Hunters need spears, Fishermen need hooks, Farmers need plows. Why are New Zealand producers and providers left without resources to work real jobs, producing real tangible items everyone is crying out for? Why? It’s because a non-productive ideology has hijacked all the tooling funds for fake production activities. It's a lifestyle choice only affordable by highly developed countries, we don't qualify anymore. Low and middle development countries put their women to real work, or they leave them at home. It's prohibitively expensive otherwise. It's doubtful New Zealand is an exception to that reality. New Zealand has some hard ideological decisions to make. Hopefully they can make those decisions before imploding the system. Address dependence and vulnerability concerns, then reallocate capital to tooling. Whoever saves NZ will be hated and incorrectly blamed for taking away lifestyle choices. When in reality the collapse would take away even more lifestyle choices.

[@DOCTRJ]

Govt Spending Put Us There!

[@malcolmWaite-g4t]

lack of spending that's the problem; treasury has already stated the need for Government to spend more not cut more, the lower the tax take the more they will need to cut or borrow, they are creating a spiraling deflationary period, hard to get out from

Government spending almost never causes recessions. More often than not; it prevents it.