Aust job ads fall in August

Published: 11:27AM Monday September 08, 2008 Source: AAP

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Australian job ads slumped significantly in August, with the white collar segment hardest hit, according to a survey.
  
The Olivier Job Index declined 3.54%, in line with worsening economic conditions, with 14 of the 16 industry sectors surveyed falling in the month.
  
The survey indicated that the worst falls were in human resources, down 8.40%, accounting down 8.24%, IT&T which dropped 8.28% and financial services and banking, down 7.92%.
  
"In the dual speed economy it's the white collar workers who have the brakes on," Olivier Group director Robert Olivier said.
  
"Companies have cut back on graduate hiring too, with demand across the board down 11% over the past 12 months.
  
"Banking jobs for graduates have fallen 55% and accounting jobs 45% in that time.
  
"If you're leaving uni without a job wrapped up, you may be struggling to find a role," he said.
  
New South Wales continued to be the laggard in terms of job vacancies - falling 6.43% in the month.
  
Queensland was down 3.57% and demand for workers in Western Australia fell 3.19%.
  
Olivier said the Reserve Bank of Australia's (RBA's) rate cut, passed on quickly by the banks, may help boost business sentiment.
  
"We'll be watching our data closely to see the effect of this interest rate drop."
  
Olivier said there had been an increase recently in companies pulling the plug on existing workers.
  
"With Fairfax Media, Holden, IAG and metal producer Minara Resources joining Qantas, Starbucks, and Don Smallgoods in laying off workers, the market is tightening up.
  
"Journalists who didn't expect to find themselves looking for a job will be disappointed by a market that's had a 6.77% fall in advertising and media jobs in the past month," he said.
  
Olivier said the outlook for jobs growth in the short term was not good in the light of the RBA's predictions of a possible 5% unemployment rate.
  
"There are good people on the market, but employers will be asking themselves whether they're confident to hire," he said.
  
"And the message about wage-driven inflation will be getting through, too.
  
"You may need a raise of 4.5% to match inflation, but you'll be lucky if you get it."
  
The ABS reported last week that the amount of working days lost in the June quarter was more than double the previous quarter, with industrial disputes worsening.
 
"The danger is that this can only get worse, as employment conditions tighten, even under state and federal Labor governments," he said.
  

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