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Tech Market Pulse Check

It’s back. Your quarterly dose of market insights—concise and curated to keep you informed.

đź“ŤWhere we’re at:
• Market caution persists; new FY brought neither salary increases nor influx of roles.
• Ongoing redundancies and restructures hitting Telco and Retail sectors, but new projects are emerging.
• Companies tighten in-office mandates: some to 3 days, Amazon to 5 days.
• RBA keeps interest rates unchanged despite cooling inflation and global cuts.
• Tight labour market persists as the unemployment rate remains at 4.2%.
• VC funding surged 12% in six months, but start-up scene remains subdued.
• Amid the cost-cutting wave, some companies are eyeing offshore solutions.
• Tech HR and TA roles are bearing the brunt of a private sector growth slowdown.
• SEEK job ads rose for the second consecutive month in September.
• Despite some mixed signals, it’s still largely an employers’ market.
• Many teams stretched thin with more projects, but less resources.
• AI and ML are driving internal efficiencies among teams, but product integration remains a challenge.

đź”­ What’s ahead:
• Economists predict RBA interest rate cut in February next year.
• Canva’s probable 2025 US listing could influence local investor sentiment.
• Talent hunt for specialised roles likely to intensify, particularly for hard-to-fill positions (e.g., ML Engineers, Manhattan OMS specialists).
• Project-based and contract work set to rise as companies balance caution with growth.
• Will office return mandates spark tech talent exodus?

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