Saturday, June 21, 2008

Kiwis flocking to Australia

A total of 40,030 New Zealanders shifted to Australia in the year to May, Statistics New Zealand migration figures showed today. It was the largest exodus since records began in 1980.

The figures also showed that only 8504 people moved in the opposite direction in the same period.

The reason for the exodus to Australia is not hard to find: Council of Trade Unions economist Peter Conway says Australian average wages are 36 percent higher, when adjusted for purchasing power and currency differences.

Another factor, according to BNZ economist Tony Alexander, is that "we are possibly in a recession at the moment, while they are still growing at 2 or 3 percent".

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