Not good news if you're looking for work.

We're overstaffed, say a third of NZ businesses
3:30PM Tuesday Feb 24, 2009

A third of New Zealand businesses surveyed by Business New Zealand say they have more staff than they need and are planning redundancies and reducing working hours in the face of a worsening economy.

The business lobby group surveyed 647 companies to help inform its recommendations to the Government's Jobs Summit being held later this week.

It warned the survey was not fully representative of all businesses, but there was a strong number of responses, particularly from small and medium sized firms.

The survey asked about intentions regarding redundancies and 33 per cent said they had more staff than they needed.

Industries with the most surplus staff were manufacturing (42 per cent) and wholesale, retail, accommodation, cafes and restaurants (38 per cent).

More here.