TheLadders.com Quarterly Executive Employment Outlook Survey: Executive Job Market Heating Up
Executives Think the Summer Job Market will Provide Hot Leads
NEW YORK (July 12, 2006) - Summer, typically considered a slow season for job seekers, is now viewed as a hot period by executives, according to the Quarterly Executive Employment Outlook survey conducted by TheLadders.com, the world's leading $100k+ job search engine. Over 62% of job seekers believe that now is a better time to be in the job market compared to this time last year. The survey also reveals that 71% of respondents are actively looking for new employment opportunities.
The second quarter sector-specific hiring trends uncovered by the survey reveal an increase in openings in services as well as healthcare, in contrast to fewer jobs in the industrial and technology sectors.
"The temperature is rising and so is the activity in the job market. We've seen huge leaps in the number of candidates and recruiter memberships on our site," said Marc Cenedella, founder and CEO of TheLadders.com. "Vacation season is here, but executives are staying tuned in to their job searches and taking advantage of the warming trend in the market to find the right positions."Survey Results
TheLadders.com surveyed a total of 1,032 executives in the second quarter of 2006. The majority of job seekers (62%) have a positive outlook on the market and think that now is a better time to be looking for a job versus this time last year.
The majority of job seekers (61%) expect to apply to less than 50 job listings before receiving an offer (31% say between 20-50 job listings; 29% say less than 20). However, 39% of those surveyed expect to apply to at least 50-100 or more jobs before getting an offer.
Reflecting their overall optimism, 27% of executive job seekers believe their search will take only 1-3 months. Another 35% predict a 3-6 month timeframe for their job search.
Regional Job Market Data
As an integral part of its Quarterly Executive Employment Outlook, TheLadders.com analyzes all $100k+ job listings posted on company Web sites throughout the Internet, along with exclusive posting submitted by employers directly to TheLadders.com. Specific details of these findings, which are detailed on a regional basis, can be accessed at TheLadders.com here: Quarterly Executive Employment Outlook.
According to the results of its latest Boom Report, New York, the city that never sleeps, remains highest on TheLadders.com's "Talent Magnet Index." Job seekers have indicated that New York is the most desirable city in which to work, followed by Boston, San Francisco, Washington, and Seattle. Detroit fared the worst on the list of 20 cities. The "Talent Magnet Index" identifies the number of active job seekers per job opening and reflects the number of job seekers who are not only looking within their own market, but outside their market, taking into account executive job seekers searching for positions outside of their current geography.The Quarterly Executive Employment Outlook is based on analysis of recruiting activity on TheLadders.com and an independent survey of registered $100k+ executives via the company's Web site during the second quarter of 2006. The number of executives that responded to the survey was 1,032. The margin of error for the survey is +/- 2.72 percentage points.