New Zealand Labor Pool Expansion Slows as Migrant Inflow Peaks.

New Zealand's labor pool has experienced slower growth for the second consecutive quarter, indicating that the influx of foreign workers into the country has reached its peak. The working-age population increased by 24,500 in the fourth quarter, compared to gains of 31,100 and 35,400 in the previous quarters. This slowdown in growth suggests that immigration may be starting to decline, which could alleviate concerns about housing demand and inflation. Despite the record net immigration of 128,900 in the past year, monthly gains have decreased to the lowest level since December 2022. The increase in foreign workers has helped alleviate labor market shortages and may ease wage inflation, making it easier for firms to find skilled and unskilled workers. [Extracted from the article]