The IT&T sector continues to wane, but the migration of jobs advertised online is growing popular amongst other sectors, according to recruitment group Olivier.
The IT&T and multimedia sector accounts for 94 per cent of the job vacancies lost in the past 12 months, 30,014 out of the total drop of 32,071 jobs advertised on the Internet in the year to July, according to Olivier Internet Job Index.
The big halt in IT jobs is most to blame for the result, according to Olivier, as the IT&T sector fell a further 9.5 per cent in jobs advertised on the Net in July and there was a 8.2 per cent drop overall. Multimedia jobs advertised fell 16.4 per cent.
Director of the Olivier Recruitment Group, Robert Olivier said, "I can't see much hope for serious positive prospects for the IT labour market until early next year, at least by February. There is still uncertainty in the US."
He said a quiet investment market and a lack of confidence is apparent in the IT sector."
While a skills shortage contributed to the drop in jobs in the technology economy, Olivier's figures indicate a buoyant economy in other sectors, which is helping online recruitment agencies as more diverse industries turn to the Internet as a medium for staff advertisements.
"If you look at the non-IT job market, our figures indicate a 12.6 per cent rise in job ads over the past year. There is real cause for optimism there," Olivier said. "The most pessimistic view held by economists is that the unemployment rate will rise to 7.5 per cent in the next six months; we can't see this happening. While our figures show an overall fall, there is a reasonably robust labour market. And although job ads have dropped in the Tech economy it was suffering from a skill's shortage anyway."