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Job Growth in Healthcare, Energy, and High Tech Industries Proves Resilient
www.execunet.com — August 7, 2008 — While the U.S. unemployment rate reached its highest level in four years in July, search firms continue to report strong demand for executive talent in several industries, indicating that job growth at the top of the market is not moving in lock step with Labor Department data.
According to a recent survey of 147 executive recruiters conducted by ExecuNet, the executive business, career, and recruiting network, 71 percent expect at least a 10 percent increase in search assignments received from corporate clients during the next six months. The industries expected to generate the greatest growth in six-figure job opportunities during this period of time include:
Top Industries For Executive Level Job Growth
1. Healthcare
2. Energy/Utilities
3. Life Sciences
4. High-Tech
5. Business Services
"Despite several well-documented economic hurdles, pockets of growth remain in the executive employment market," says Mark Anderson, President of ExecuNet. "The rapid rise of the Energy and Utilities sector is particularly notable. Having spent much of the past decade below the radar of many recruiters, companies within these industries are increasingly relying on executive search firms to grow their leadership teams."
The survey also reveals that concerns about the economy's prospects are indeed impacting the executive search industry's outlook for growth. Approximately half of all executive recruiters (49 percent) are confident or very confident that the executive employment market will improve during the next six months — down from 64 percent in June.
Confidence in the Executive Employment Market Next Six Months
Recruiters' short-term confidence also dropped in July, as 41 percent report being confident or very confident the executive employment market will improve in the next three months, down from 52 percent one month ago.
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive recruiters conducted by ExecuNet. Independent analysis of the RCI has confirmed it is a leading indicator for the executive search industry.
Founded in 1988, ExecuNet is a leading business, career and recruiting network for senior level executives. It brings C-level leaders together online and in face-to-face meetings to discuss business challenges, solutions and professional opportunities. A recognized authority in executive recruiting and human capital, ExecuNet also provides members access to confidential six-figure job listings, proprietary research, and pragmatic advice. For more information, visit www.execunet.com.
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