When Pacific Brands announced more than 1800 factory jobs were going, the impact of the world wide economic crisis really hit home. The jobless rate is the worst it's been in four years and we're being warned there's much worse to come.
But is it really all gloom and doom on the jobs front?
"I need 500 workers asap. The work's not hard and the money's good." Michael Fraser has started small but is thinking big - his business Nofus Services needs sales people to match customers with businesses.
"We're talking about sitting in an air-conditioned office, no real pressure, just talking to people about their business and how to grow their business a bit bigger" says Michael.
He's prepared to pay at least $1000 a week - and needs people all over the country.
"If you're out of work. If you're keen to work, I've got 500 jobs now" he adds.
CEO of worldwide recruitment agency Talent Two, Nicholas Truckfield, says most major employers will be cutting their workforces and today's unemployment figures are just a glimpse of what's to come.
"If anything my belief is that the figures probably underestimate what's happened and I think it is that shift from full time work to part time work that is disguising that" says Nicholas.
While mining and manufacturing and the finance sector are shedding thousands of jobs, there are many planning to expand.
Woolworths for example will need 7000 new workers this year. This is an area that will continue to be a super market for job seekers says Kate Gillings from Aldi, which plans to hire 2600 new staff in the next 12 months.
"A range of people because we have a range of roles to fulfil so retail managers, area managers, retail assistants" says Kate.
"We're really thrilled we can offer these opportunities to Australians even though other companies might be cutting back at this time" says Kendra.
Bakers are in short supply - says Kendra Teasdale from major franchise Baker's Delight. There are hundreds of apprenticeships up for grabs.
"We've got over 500 apprenticeships available Australia wide. We've also got 150 new franchise opportunities across new and existing sites and we've often got jobs available in most of our bakeries so we certainly encourage people to apply" says Kendra.
Fast food chains are digesting all the glum economic forecasts without a hiccup. KFC anticipates increasing its workforce by 15000 this year; Pizza Hut will be looking for 3,400 new employees. And with the golden arches popping up in 400 new locations over the next 12 months - McDonalds will create 4000 new jobs.
All silver lining's on the dark economic clouds.
In February 53,800 fulltime jobs were lost which meant the national unemployment figure jumped .4% to 5.2%.
This is the breakdown state by state:
NSW rose from 5.5 % to 5.8%
Victoria rose a stunning .8 percent to 5.6% Queensland fared better rising just .1 percent from 4.4 to 4.5% South Australia also got off light 5.8% Western Australia's boom is well and truly over 4.2% While Tasmania is defying the trend remaining stable at 4.5%
"I think the situation is pretty dire, I think if you listen to the economists and the people who study the figures day in day out most of them are predicting unemployment to go from 5.2 to more like 7.5" adds Nicholas Truckfield.
Despite the rising unemployment rate Michael Fraser is struggling to fill the positions he has available and can't work out why. "Very surprised I would think if you're offering good money and the chance to start straight away people would jump at the opportunity."