Job ads across New Zealand fell by 21% in June 2023 compared to June 2022, according to the latest research by Seek New Zealand.

New Zealand's economy fell into a recession in June after the country's central bank hiked interest rates to a 14-year high.

Seeks' data also found that Gisborne and Marlborough were the only regions that reported an annual increase in June, with 23% and 3% growth, respectively.

According to Seek, while both regions of Gisborne and Marlborough are small in terms of job ad volumes and therefore more susceptible to flux, it is notable that both regions recorded their highest levels in May, and small drops in June have not altered the high demand in either region.

On a month-on-month basis, job ad volumes declined by 3%. Applications per job ad rose 10% over the month.

All but two regions recorded a decline in job ads in June compared to May. Northland rose 3% month-on-month, and Manawatu recorded no change. The national decline was driven by a fall in job ads in Auckland (-4%), Wellington (-3%) and Canterbury (-3%).

By industry, advertising, arts and media job ads rose by 16% on a monthly basis in June.

Trades & services (0%), construction (3%), engineering (1%) and education & training (2%) were the largest industries to record an increase in job ad volume in June. Roles within the regional construction sector, in particular, rose 7% month-on-month, whereas those within metro construction fell 3%.

Job ad volumes fell in most other industries, including hospitality & tourism, which has declined significantly over the past quarter, dropping 40% since March.

Seek New Zealand country manager Rob Clark said: "With the economy now officially in a recession, cost consciousness would be front of mind for most organisations, particularly as we head into a new financial year, so it is unsurprising that hiring activity is slowing."

"The declining trend in job ad volumes is not evident across the board, with increases in demand for talent in industries such as trades & services, construction, engineering and education & training, and demand in some of the smaller regions of Manawatu and Gisborne also picking up," Clark said.

"Candidates remain active on site, and applications per job ad have picked up in response to falling job ad volumes," Clark continued. "Changing jobs remains the quickest way to attain a pay rise, which is likely driving many applications, though news of a recession may lead to hesitation among some candidates."