Wellington region’s numbers show good promise

Press Release – Business Central

The Governments latest Regional Economic Activity Report paints a picture of promise for the Wellington regional economy, with a skilled workforce that is capable of big things into the future, says Business Central and Wellington Employers Chamber …

Business Central
Wellington Employers’ Chamber of Commerce

Media Statement

5 June 2014

Wellington region’s numbers show good promise
The Government’s latest Regional Economic Activity Report paints a picture of promise for the Wellington regional economy, with a skilled workforce that is capable of big things into the future, says Business Central and Wellington Employers’ Chamber of Commerce Chief Executive Raewyn Bleakley.

“Far from how some might regard Wellington, this report shows we are an extremely attractive city with a huge amount to be proud of and a solid economic foundation.

“We have the highest concentration of web and digital companies in New Zealand on the back of the fact that we specialise in information, media and telecommunications, particularly in technology, internet and library services.

“Our ICT sector, in particular, is moving ahead in leaps and bounds, and initiatives such as the graduate school announced just this week put us in a great position for the future.

“Our workforce has the highest education attainment levels and skills in New Zealand. Some 82% of our 18-year-olds have a minimum of NZEA Level 2 or the equivalent, compared with 77% nationally, while 60% of those aged between 25-34 have advanced trade qualifications, diplomas or degrees, compared with 52% nationally.

“And the good numbers go on.

“Some 78% of our jobs are skilled or highly skilled, compared with 68% nationally, while 13% of jobs are in the professional, scientific and technical services areas, compared with just 9% nationally.

“And it’s not just the technical jobs. The report shows that our arts and recreation services sector generated the fastest employment growth over the past decade.

“None of this is a surprise but all these factors are behind Wellington’s high GDP per capita and incomes.

“Over the past 12 months, households had the highest average annual household incomes in New Zealand after housing costs are taken into account, with a significantly higher share of households earning more than $100,000 compared to the rest of the country.

“While it’s been a mixed picture over the past few years, these numbers show that in many key areas we are in a great space to take advantage of the opportunities for our knowledge-intensive industries and firms to expand and diversify.

“Despite this there remains much work to do, and we must continue to concentrate on attracting new business and working on ideas to grow our region’s economy further.”

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