Whereas this article concerns kiwis and their OE, expat Brits reading between the lines can see how bad the job situation is back in the UK. They can also expect a trickle of returning kiwis into NZ who will be jockeying for available jobs.

The sun sets on the great OE
4:00AM Sunday Nov 16, 2008
Kineta Knight

The great Kiwi OE is under threat as the UK economy starts to feel the full impact of the global credit crunch. Swarms of young New Zealanders are heading home with their dreams of working their way through two years of travel shattered.

Gone are the days when Antipodean visitors could raise living expenses by pulling pints, temping and nannying. Unemployment in Britain has reached an 11-year high - 1.82 million people are jobless with about 20,000 laid off last week alone.

Latest figures from finance recruitment company Michael Page show the number of New Zealanders and Australians looking for jobs back home has shot up almost 30 per cent compared with the same period last year.

Statistics New Zealand figures show that in the year ended September 30 there were 3700 more permanent and long-term arrivals into New Zealand than the previous 12 months, which includes those returning from their OE.

And according to UK Government figures, the seasonally-adjusted number of visits by foreigners plummeted by 200,000 in the quarter ending September 30.

More here.