TLDR: Aotearoa-NZ’s employers face an even bigger threat from Australia’s headhunters in the coming months as signs emerge the lucky country is set to be the major beneficiary of China’s response to its own economic slowdown, and Europe’s desperate hunt for coal, gas and oil anywhere but Russia.
The risk is a repeat of the disastrous 2008/09 recession when tradies and many other highly-skilled residents jumped the Tasman for much higher wages in the fast-growing mining sector and in ancilliary industries such as engineering, transport and finance. Paid subscribers can see more analysis and detail on a new Australian jobs pull below the paywall fold.
In news elsewhere this morning:
as a debate brews here about whether to send lethal aid, Ukraine is calling on NATO and other nations to send as many tank-busting missiles and other heavy weaponry urgently ahead of a fresh Russian offensive expected in its eastern regions (RFE);
The United Nations voted to expel Russia from its Human Rights Council overnight (Reuters), but a divided Europe struggled to impose its ban on Russian coal imports, being forced to delay it for a month until August (CNBC);
Brent Crude oil prices nudged briefly below US$100/barrel overnight after the International Energy Agency confirmed plans to release an extra 60m barrels of oil from oil reserves outside the United States and Europe struggled to implement its sanctions against Russia (Reuters); and,
an AUT survey of hospitality sector workers found 16% of staff hadn’t signed a contract before starting their jobs, 18% didn’t receive the minimum wage and 77% didn’t receive lieu days, holiday pay and rest breaks (Stuff)
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