perth level of unemployment

[kero]

we hear in the media such and such company is cutting down staff numbers e.g. qantas and FMG. recently an US engineering company in perth, due to lack of work, has got rid of their US staff working here. The company that the Mrs worked in made 5 of their staff redundant two weeks ago. The company service mining projects.

so though unemployment rate is low at 4 ish (from memory), retrenching of staff is happening on the ground appears to be trending up.

anyone either experiencing or hearing such news?

 

[Ausprop]

It seems to be trendy to be bearish at the moment? this over shooting will cause more distortion in the market

 

[lizzie]

Happening all over the mining industry atm ... hubby's work was advised yesterday that around 50 contractors are going from their site alone.

 

[Aaron Sice]

we have to rememeber that there's a three-fold reason why these layoffs are happening.

1) exorbitant contracting rates are more expensive that offering perm staff paid overtime + benefits.

2) lack of income royalty in a few sectors leads to

3) uncertain business confidence with all the D&G and hyped up tension surrounding China's doomsday slowdown from 9% to 6%.

 

[HiEquity]

In my business it's all because the price of iron ore has tanked. There are no long term contracts in that industry!

Out of about 120 engineers we had in this sector around 3 months ago, today there might be 40 left if we're lucky. Same story in at least 5 other engineering firms up and down the Terrace. Some people have found some other work but a lot have not...

And not just contractors, plenty of permanent staff too. Just like BHP.

Not being bearish - just stating facts here...

 

[Jake D]

In my business it's all because the price of iron ore has tanked. There are no long term contracts in that industry!

Out of about 120 engineers we had in this sector around 3 months ago, today there might be 40 left if we're lucky. Same story in at least 5 other engineering firms up and down the Terrace. Some people have found some other work but a lot have not...

And not just contractors, plenty of permanent staff too. Just like BHP.

Not being bearish - just stating facts here...

We've had the same result in our office, but we have nothing to do with Iron Ore. Client just packed up and left. Probably realised they could ask for a discount somewhere else since Iron Ore projects were closing offices.

 

[Aaron Sice]

We've had the same result in our office, but we have nothing to do with Iron Ore. Client just packed up and left. Probably realised they could ask for a discount somewhere else since Iron Ore projects were closing offices.

that's the more worrying issue.

 

[Ausprop]

the only water cooler talk I can offer is that my cousin just got re-head hunted by her old employer on vastly improved conditions - major mining services supplier, and a guy I know working at an FMG site got the boot.

 

[westminster]

I'm at Chevron which is growing at alarming rates but I read in the newspaper today that a few more places are shrinking.

I know that Woodside voluntarily lost 100 as their 3yr retention programme ended and once everyone got their 3yr retention bonus in August they left. I believe they aren't to be replaced.

One of the articles in the newspaper today was BHP Iron Ore was shrinking.

 

[vmay]

interestingly i just had someone knock on my door interested in buying my house........just a week after an agent was chasing me regarding it....the agent of course I did not take too seriously but these people are already living in my street.........not sure if its an isolated situation or a sign that people are looking at buying rather than renting now the rental market is so tight.