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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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