JobStats - November 2002 - a brief summary: 24 Nov 2002
24 Nov 2002
Preamble
There's just a very brief newsletter this month. There's been a
lot going on at JobStats Tower and time has pretty much run out.
Market trends
The demand for permanent employees still continues to fall and the
demand for contractors continues to rise. This reflects employers
uncertainty about the future and desire to reduce their commitments
rather than a looming staff shortage.
The bloodletting in the City has continued (as predicted).
Over the next few weeks you can expect to see the usual Christmas
slump in adverts. This is a regular seasonal event as everyone
focusses on partying, buying presents for Auntie Agnes and arguing
about who has to support Tokyo on Christmas day. This will mask any
growth or decline in the market so don't think that the sky is
falling just cause things look bad over the next four weeks. The
scale of the bounceback in January will be more interesting and
will give us our first indication of the confidence of the employers about
their IT needs in 2003. My bet is that it won't be a strong
recovery.
Annual rates are falling and hourly rates are rising. Of these two
the most significant is the fall in the annual rates. In a thin market
like we see at the moment the rates are based on ever smaller numbers
of adverts and the hourly rates are based on a much smaller proportion
of adverts than annual rates. Consequently they are much more variable
and you need to see what's happening over a longer period to get a true
idea of any trends.
That's all folks. Sorry it's so brief but I'll be back with a full
report next month.
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