A recruitment industry benchmarking report in Australia and New Zealand shows a weak quarter for the industry between January and March this year with profitability across the sector plummeting 53 percent on the same quarter last year. This is according to the latest research by the IT Contract and Recruitment Association (ITCRA).
Ten percent of ITCRA members contribute data to the results, showing tough trading conditions in the information and communication technology recruitment sector. The negative trend for contributing recruitment firms has been ongoing with five of the last six quarters having seen a fall in profit.
The two key underlying measures of current market activity appear to be the number of contractor hours and the number of permanent placements. The recruitment industry benchmarking report average has fallen 9 percent and the information and communication technology sector has fallen 5 percent on last year on hours processed through the payroll.