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01-03-2009, 12:45 PM
Tech sector jobs dwindling

The IT industry suffered a major decline in job advertisements for 2008 recording a 37.17 per cent fall compared to 2007 figures.

According to the Olivier Job Index, December continued the six month haemorrhage in job ad decline with a 6.85 per cent decrease. In November the technology sector reported a 7.64 per cent slump.

The IT industry was the fifth worst affected market for job advertisements according to Olivier Group director Bob Olivier.

“The tech industry has performed worse than the general economic situation because these jobs tend to be more caught up with global organisations that are taking financial hits in all global markets,” he said.

As online IT job vacancies continued to tumble by roughly 1000 advertisements a week, Mr Olivier warned that job prospects for 2009 would remain grim.

“There’s not a lot of positive news indicating that the downward trend is going to reverse for 2009, it just depends how severe and deep the decline in the economy will be.

“While organisations won’t necessarily be growing their teams they will be looking to strengthen them. This of course could have a drain on importing skilled workers from overseas though,” he said.

Mr Olivier also warned contractors could expect to be given their marching orders in the coming year as employers attempt to stem the fallout from the global financial crisis.