There is concern New Zealand’s pandemic-driven brain gain of skilled workers is turning into a “brain drain” as young people head overseas. Provisional migration figures from Stats NZ show there have been more people leaving the country year-on-year than arriving each month since April 2021.
Comparatively high cost of living coupled with lower wages, alongside affordable house prices are pushing young professionals to look for opportunities overseas.
Infometrics principal economist Brad Olsen was worried a “brain drain could see New Zealand’s already tight labour market and intense skill shortages be exacerbated” – stymieing economic growth and limiting the country’s productivity.
Olsen said the country would have to work “incredibly hard” to keep talent onshore – especially nurses and construction workers.
