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Today Tonight -

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(generated from captions) this one is effective Monday. start to act, But as governments and banks when it comes to employment. there's still a big problem

being stripped from the workforce Thousands of jobs are now and will be for months to come. So is your job at risk? Marguerite McKinnon finds out. Employers have lost confidence. they're starting to fire. They're not prepared to hire - has now hit Australian jobs. The global financial crisis In April, Fisher & Paykel announced whitegoods manufacturer 1,000 jobs will be cut in Australia as they move to Thailand and Mexico. Last week, department was sacked. ACP Magazines' public relations Another 150 jobs are expected to go like the new glossy, 'Grazia'. along with some magazines another 500 jobs will go. Today, Ford Australia has announced

from its Victorian plants That's now 1,500 jobs in the next two years and the fallout continues. State Secretary Mining and Energy Union, of the Construction, Forestry, Andrew Ferguson. in Australia The biggest builder of home units is Meriton Apartments. about 20-30% of their workforce We now have been advised that is going to be retrenched of the global economic crisis. and that's an example of the impact

I've never seen it like this. unchartered territory. I think we're in has been running his business Andrew Lyall from Prestige Cars for 31 years. I've retired an accounts person, Sadly, I retired a sales manager

the business smaller and leaner and I've certainly made and I had to batten down the hatches are in the same boat. and I'm sure other retailers for 15 years I've been in recuitment the number of jobs online for eight and I've been measuring as they seem to be becoming. and I've never known times as tough

Recruitment expert Bob Olivier says is split down the middle - the Australian job market and those who are safe. those at risk as the most vunerable Those I would particularly select property and construction, would be banking and finance, particularly in the higher end retail, also in the higher end, and hospitality, are just not going to go far enough. where people's money and budgets if you're in the public service. You probably are happiest

Areas like education and health, despite the tough times. they'll still do well

In the private sector like engineering you're probably looking at areas on the back of the resources boom that are going very strongly and with the Government promising into infrastructure, to put more money they look pretty well placed. Added pressure on our job market is record-high influx the Federal Government's of migrant workers.

to Australian jobs. Overall, there is a jeopardy that have been displaced There are people to do their jobs. with cheaper labour being used given what's coming, Andrew Ferguson says the Government needs to reduce entering the country. the number of migrants

as cheap labour Many of these workers are used but equally importantly, for Australian workers it jeopardises jobs for young people and makes it more difficult to obtain apprenticeships in this country. and training opportunities Senator Chris Evans says Immigration Minister

nurses and other skilled workers migrant workers provide doctors, we don't have. Putting Australians into work is of the Rudd Labor Government. the priority Australian jobs first We'll always put to supplement skills needs and the migration system is designed and can't fill them locally. where we have demand Companies like Visy, paper recycling company, Australia's largest has been recruiting for months and maintenance workers for chemists, IT, engineers the vacancies. but they simply cannot fill is migrant-based A third of their workforce but jobs are still going begging. The bigger picture, though, is grim. is currently 4.3%. Australia's unemployment rate Bob Olivier warns of the likes of 1929. we're about to see a repeat

of the developed world at the moment Unemployment rates in other parts can be 15-20% in France we'll have that, too. so it's quite possible Are you seriously suggesting of the Great Depression? we could see a repeat That is correct. that's what it could turn to. If things get that poor,