Cost cutting minus job cuts

Labour force figures released from the Australian Bureau of Statistics for the month of December 2008, have shown a decline in the proportion of females employed in a full time role. The shift of female workers to part time suggests businesses are struggling to cope with the current economic climate.

In December 2008, part time roles increased to almost 39,000, while there were 36,000 fewer women in full-time unemployment, seasonally adjusted. Many economists speculate the recent shift in part-time work can be attributed to the current economic hardships, with females returning to the workforce to make ends meet.

Citigroup economic Stephen Halmarick, has the view that while there might be a period of increased labour in a part time capacity, tougher times ahead are inevitable. “The first step is to cut people’s hours rather than get rid of labour immediately,” he said.