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A new Recruitment Industry Benchmarking (RIB) 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% on the same quarter last year. This is according to the latest research by ITCRA, the association for ICT contract and recruitment companies in the region.
10% of ITCRA members contribute data to the results, showing tough trading conditions in the ICT 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 RIB average has fallen -9% and the ICT sector has fallen -5% on last year on hours processed through the payroll.