Friday, 12 December 2014 01:14

Job demand uncertainty continues for IT executives Featured

By

Despite avoiding a drop off in October, demand for executives in the IT sector dropped 9% in November, continuing a three-year period of generally flat demand in the technology industry.

With the national unemployment figures rising and an increasingly fragile economy, the latest EL Executive Demand Index reveals a drop of 5% in November across all business and industry sectors compared with October when demand dropped a massive 17%.

While demand for IT executives did fall in November, IT was the only sector not to fall in October, and EL managing director Grant Montgomery says the IT sector remains “well above its recent lows and in the middle of its recent trading range”.

Despite the November figure and October losses, the Index remains above the lows hit in June this year, although it is now lower than the corresponding period in 2014.

According to Montgomery, this latest EL index reveals that in just about every sector of executive employment the number of jobs on offer is lower than they were a year ago.

Montgomery says the fallout in new executive positions directly relates to a lack of business confidence and as the country is now heading into the traditionally low hiring holiday season this is tipped to continue.

“There is no likelihood of an upturn in this important indicator for the rest of this year and into early next year,” Montgomery warns.

“Traditionally Australia always lagged behind the bigger economies and this time round we were heavily insulated from a downturn by a China expansion driven resources boom.

“That boom has at least for the time being subsided and we could be very well be about to experience our very own financial crisis.”

Montgomery also says that it is very clear from recent GDP figures that if there wasn’t some heavy infrastructure spending and investment in NSW that Australian economic growth could already be into negative numbers.

“Unless there is a big up kick in consumer spending over the next two months we could start seeing some negative growth figures.

“While two negative quarters of economic growth is unlikely at this point there may be a compelling case for the Reserve Bank to reconsider its ‘stability’ arguments and drop the official rates in the first quarter next year.

“Whatever the outcome it is very clear that business confidence is falling fast and the road for the Australian economy in the near future could be a little bit rocky.”

Montgomery says the general volatility in the national economy was reflected in the sectors, with engineering producing the largest increase, followed by marketing.

EL reveals that New South Wales remains the largest provider of executive jobs overall, and in all sectors except marketing, the smaller states and territories experienced slight falls.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments