Ref:1028
The Job Market
With so much economic uncertainty, it’s no surprise employers have cut back on hiring, impacting several key industries. According to Beyond.com, there has been a 6.35 percent decrease in the total number of jobs posted in November 2008 compared to the number posted in November 2007.
Although the information technology (IT) field remains strong with 12.9 percent of all jobs posted to the Beyond Network in the third quarter of 2008, it experienced a significant decline of 1.09 percent, causing the industry to fall from the top position after six consecutive quarters. It was replaced by health care and medical.
Despite the fact the IT industry suffered a decline, this industry is expected to remain strong in 2009. As a result of the economy, many companies will be forced to look more closely at their revenues and expenses, and likely will emphasize technology initiatives that will produce cost savings, efficiencies and promote strategic organizational growth.
Further, many companies are recognizing the importance of hiring well-trained IT workers to help support and carry out the increasingly sophisticated technologies needed to stay competitive in the marketplace. The constant need for technology upgrades will help promote job security for IT professionals and job growth in the IT industry during the coming year.
Not Every Industry Is Suffering
Although many industries have been affected by the economy, Beyond.com’s report indicated some industries still are experiencing growth despite the economic recession. In the third quarter of 2008, the industries that experienced the largest percentage increase in jobs during the past year were health care and medical (2.66 percent), clerical and administrative (1.68 percent), and legal services (1.34 percent).
