10 Jun 2011

Auckland slipping on economic performance

4:44 pm on 10 June 2011

New reports on Auckland show the region's economic performance is sliding in comparison with overseas rivals.

A study for the Ministry of Economic Development shows Auckland is ranked only 84th among 116 metropolitan regions in the Organisation for Economic Co-operation and Development.

The ministry has spent four years researching Auckland and nine reports have been released.

A study of the city's competitiveness says labour costs have been rising but without a rise in productivity.

Auckland compares well within New Zealand but even against six comparable overseas regions it ranks sixth, with youth unemployment a significant problem.

Another report on the knowledge economy shows Auckland's performance compares well in Australasia but has slipped against Europe, with a net loss of skilled knowledge workers heading overseas.