Finance Jobs Fall 8%

Published by peacebearer | Filed under business, finance, news

Economic crisis means jobs crisis. Slowing market conditions are finally flowing through to the finance sector with advertised job vacancies falling 8% in over a one month period. The finance sector had been hit just as hard as other parts of the economy. Overall, executive positions had fallen 10%, nearly as much as the finance sector. Businesses who are making borrowing decisions daily react quickly to interest rate rises. They are likely to make immediate budgeting decisions and cutting their expensive executive payroll is often the first area to be effected. The private sector in particular has cut executive employment in seven out of the last eight months. This makes the downward trend difficult to deny. The index found that compared to February, the falls in March were widespread across every state and territory as well as every industry group. If share markets don’t at least stabilize soon the outlook could be even more grim, especially in the investment sub-sector. Economic crisis affects anything that connects to it, market stabilization is our only hope.