No. 1 Story
HP job cuts loom for Australian employees
A number of Australian employees of Hewlett-Packard are facing the loss of their jobs as the global computer giant looks to slash its worldwide workforce by up to 30,000.
read moreIT&T jobs down in Canberra amid economic uncertainty
Stan Beer
Monday, 11 February 2008 13:49
The Federal Government is the largest employer of IT&T expertise in Australia and ACT is where a high proportion of Federal Government IT&T positions reside. Thus, a downturn in IT&T jobs in ACT could be viewed as a bellwether for Australia's IT&T employment sector, as part of a general tightening of the jobs market.
“Our data has led us to warn of wages driven inflation for quite some time. With full employment, rising interest rates are also pushing up salary demands,” says Robert Olivier, CEO of Olivier Group. “The rise in people's mortgages means that recruiters are seeing people who are job hunting to reach the salary targets they need.
"Higher mortgage repayments also mean that previously full time child carers may now be forced to return to the workforce. The fall in value in some superannuation funds may cause some people to reconsider imminent retirement.
"Both these trends will help raise the participation rate, or, in the absence of rising demand for workers, may help push unemployment up."
Another large employer of IT&T professionals in Australia, the banking and finance sector, is also under pressure, with jobs down 1.45% nationally in January.
Although the IT&T skills shortage in Australia is as severe as ever, the latest Olivier Job Index is the first indication that the technology jobs market could soften over the coming year.
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