The ICT services sector continues to show signs of strength thanks to your recruitment figures. Between June 2021 and June 2022, the demand for specialized talent has increased by 7.8%. So far this year, during the first half of 2022, the average hiring rate has exceeded 7.4%well above the average for the services sector in Spain (4.9%).
This is reflected in the latest installment of the TIC Monitor monthly barometer, prepared jointly by VASS and the CEPREDE Economic Prediction Center. This dynamism in employment is not new and could already be seen in 2021, the year in which the IT-related services sector was the third in job creation at the national level, in absolute terms, with 73,000 new employees in 2021.
“Although the labor market is beginning to show signs of fatigue in the face of the possibility of a slowdown in the economy, this is not the case in this sector. If it continues at this rate, it could break a historical record exceeding 100,000 hires in 2022”, says Antonio Rueda, director of VASS Research and head of TIC Monitor.
Secondly, activity figures support this growth trend. Invoicing in programming, consultancy and other IT-related services companies registered a year-on-year growth of +19.6% between June 2021 and June 2022.
“The average growth so far this year remains at +18.0%, an extraordinary pace, especially if we discount the effect that the rise in prices could have on the increase in turnover. Approaching it by the CPI for services, we would have a picture of a sector that grows in “real” terms (discounted for inflation) by +15.2% in the first half of 2022″says Rueda.
Positive climate despite uncertainty
Logically, these positive data have their effect on the expectations of employersboth in activity and in employment.
According to the creation of new jobs, the climate indicator rises slightly from 32.7 points to 40.7 on a scale of -100/+100. This would be equivalent to saying that 70.4% of digital service companies trust in a net job creation between September and November, compared to 29.7% who perceive, on the contrary, a workforce adjustment.
Regarding the expectations of the activity, although optimism drops slightly, it is once again higher than the average for the European Union (27.2). The business climate indicator went from 48.8 points last month to +43.0 on a -100/+100 scale. Which means that the balance between those who expect a growth in activity until November and those who fear a contraction, lean in favor of the former in 71.5% of cases.
“Companies maintain a positive tone while awaiting the outcome of the various challenges facing the economy as a whole. The energy crash and international convulsions, which seem to redirect us to a new version of the cold war, coexist with a new search for decoupling, not only commercial but also technological. And this leads to a kind of digital rearmament that reduces our dependency and will undoubtedly favor this sector that is increasingly becoming strategic”Wheel concludes.
