Sydney Job Market Update: August / September 2024

The job market continued in its mostly downward trend in 2024 for most categories monitered, with the human resources category showing some resistance: 

% Change in Job Opportunities from Previous Monthly period

Market Observations:

• Since May 2024, the ICT Category has experienced a 6.88% decrease in full-time ICT job postings, compared to a 10.42% decline in temporary contract based ICT roles. This is likely due to the continued trend of bringing contractors in-house to permanent roles. The hardest-hit areas for contractors include:

• Developers/Programmers: Contractor roles have declined by 32.52% since May.

• IT Security: Contractor roles have seen a 42.19% decline since May.

• Human Resources has remained one of the most resilient categories in recent months for both full-time and contract-based roles. This is likely due to the extensive planning and operational challenges posed by legislative reforms contained within the Closing Loopholes legislation. (See the next point.)

Legislative Reminder:

• On August 26th, significant changes came into effect under the Closing Loopholes legislation, impacting worker classification, pay equity, and job security measures. Please reach out if you need guidance or resources on how this may affect your business.