The Ashdown Group Jobs Index (AGJI) tracks the number of advertised permanent jobs at the Ashdown Group and the leading Internet job boards within the IT, Marketing, Accountancy and HR sectors. Data is compiled throughout the month and released in the first few days of the following month.

March 30th 2010:
7607
points

Change since February

Overall:             -4.37%                  
IT:             -5.35%                  
HR:           -10.95%                  
Marketing:             -1.48%                  
Accountancy:             -2.14%                  

Headline Figure: 

The index has seen a 4.37% fall in the number of jobs advertised in March. The Ashdown Group Jobs Index now stands at 7607 just down from February’s high of 7955.


Summary - Recruitment activity falters across all sectors:

The biggest change in March was the HR sector with a reduction in the number of jobs advertised of 10.95% compared to February. The most robust sector was marketing with a drop of just 1.48%. Accountancy and Information Technology saw falls of 2.14% and 5.35% respectively.


Short-term and medium range forecast from John Lynes, Director of the Ashdown Group: 

HR Recruitment Market Analysis

'No surprises that the HR sector saw a drop in demand during March as predicted in last month’s analysis. Having lurched upwards in January, the number of jobs being advertised had to come down. The HR sector is one of the smallest analysed in terms of market size and as such, relatively small changes to monthly advertised jobs can have a large impact on the percentage change. There is still uncertainty about the future of the economy, with little real stimulus for growth coming from the Chancellors budget. All eyes are now focused on the election results. I predict minimal change from current levels until there is more stability and certainty about future economic policy.'

Marketing Recruitment Market Analysis

'Marketing personnel remain in strong demand as the number of jobs fell by just 1.48% in March. There is a finite market size for any business and companies are at war to command the greatest share. I fear for the small businesses that have not approached their marketing strategy as aggressively or innovatively as their competitors - wherever a company gains market share, another loses theirs. Interestingly, in March, the Ashdown Group saw a return in demand for traditional marketing roles where previously the focus had been on marketing roles with a strong search engine optimization (SEO) and online bias. I believe marketing will prove to be the strongest job sector throughout the year.'

IT Recruitment Market Analysis

'I was mildly surprised to see a fall in the number of IT jobs during March compared to February, but because February had been so strong with over 14% growth, perhaps I was being over optimistic. Information Technology is expected to continue to grow through 2010. There has been a recent shortfall in supply of most development skills and this is driving the resurgence of a strong contract market.

'Within the IT sector, we are seeing good candidates receiving multiple job offers. The greatest demand is for infrastructure specialists with datacentre experience and software developers, as businesses continue to drive down costs by focusing on system consolidation and new applications.'

Accountancy Recruitment Market Analysis

'There has been little change within the accountancy job market this month with a small drop in demand of 2.14%, which was to be expected after a strong performance in February. April represents a busy time in the finance department, with end of year accounts being prepared and budgets being delivered for the coming financial year. I predict that the demand for accountancy personnel will remain static until after the election.'


Conclusion:

'Having seen a remarkably strong set of figures in February, March has seen a fall in demand across all sectors. Decisions to hire may have been delayed in anticipation of the budget and there is still some uncertainty about the future of the economy, particularly with the election looming.

'Historically, April is a time of new company budgets and it will be interesting to see whether company spend is allocated to a growth strategy or whether businesses will be more defensive.

'Our business has seen growth unabated, with many of our SME customers’ confidence to hire returning. The SME market is an excellent barometer of the health of the economy and I believe confidence in this sector is a good omen for the future.

'Longer term, I have some concerns over the decision to increase employee and employer National Insurance and the impact this will have on future hiring plans. Staff costs are the highest individual cost in many businesses and this move could be the catalyst for managers to review the way they fulfil certain business functions.'