State of the Market

[SussexSeagull]

Based on number of job ads, the job market almost ground to a complete halt in March after the banks failed, but has now (April) recovered back to the level it was prior to the bank fails.

The new tax year bounce in the jobs market supposedly lasts a couple of months, till end of May..

Just in time to wind down for the Summer.

[DrGUID]

I'm a .NET/C# permie and I'm stuck in a role I'm not keen on. It only took me 6 days to find this role back in February. Now there is nothing else out there except roles at places people don't want to work at. Indeed, CV Library and now CWJobs appear to be dead, at least as far as getting recruiter calls.

Either there are no openings, or the market has been flooded with candidates, so recruiters don't need to call. Weirdly I'm getting minimal fishing calls.

This is kind of reminiscent of 2002. For younger readers the IT market crashed the year before and although the rest of the economy remained resilient, the stock market went on a slow motion collapse. The difference back then was interest rates were being loosened, and there wasn't that much inflation.

So what we have now is stocks hitting lofty highs, but the IT job market going in the other direction. Something's got to give.

[Bluenose]

I'm a .NET/C# permie and I'm stuck in a role I'm not keen on.

I would keep your head down and check this thread same time next year.

There is plenty of suffering in this market, would not surprise me if some places are quietly going bust or having to make some really tough staffing decisions.

I am seeing almost daily spam from recruitment agencies running workshops or, social gatherings. Hays being one of the main ones.

I think your summary is probably about right, we are awaiting a big crash in equities.

[Jolie]

I think your summary is probably about right, we are awaiting a big crash in equities.

The other common theme was the introduction of IR35 a year or so before. I'm not sure about a "big" crash in equities, most of that has already happened, but most analysts agree we will re-test the October lows. If there was a big crash, it would be game over for many on here.

[t0bytoo]

I just started a tulipe govt contract. Resisting the will to walk because it was only one of two reasonable opportunities I had since Xmas. Ho hum

[SussexSeagull]

The other common theme was the introduction of IR35 a year or so before. I'm not sure about a "big" crash in equities, most of that has already happened, but most analysts agree we will re-test the October lows. If there was a big crash, it would be game over for many on here.

I was still a permie back then and I got made redundant in mid 2000 and got two offers in about a fortnight with a few forming an orderly queue behind them. Fast forward a few years and I was made redundant again and struggled to find a decent role afterwards. That wouldn't be IR35 related.

There was a global recession post 9/11 that the UK largely missed but it did seem to impact the IT industry which even back then was fairly international.

[mem80]

Based on the past market downs - how do you predict? when the contractor market is going to bounce back?

[BlueSharp]

I've noticed a cull of recruitment agents on LinkedIn, there is an ill wind blowing through the market at the moment.

[rocktronAMP]

I've noticed a cull of recruitment agents on LinkedIn, there is an ill wind blowing through the market at the moment.

Have you got any hyperlinks for the above observation?

[Bluenose]

Have you got any hyperlinks for the above observation?

I don't know about recruitment specifically but if you search for 'layoffs' in linkedin and filter it to show posts less than a month old, it is sombre reading.