Executive Job Market Strong in Health Care and Industrial Sectors

January 6, 2009 (PLANSPONSOR.com) - According to TheLadders.com's quarterly Executive Job Market Trends Report for Q408, due to recent changes in the economy, some traditionally strong sectors in the job market for those earning over $100,000 per year have seen declines, while others have remained strong.

The health care sector continues to show growth in $100k+ job postings over this past quarter, especially within categories such as patient care and medical devices and diagnostics, according to a press release. Certain industrial categories such as engineering services have also shown an increase in new opportunities, while aerospace/defense continues to exhibit a strong demand.

“There are segments of the job market that are clearly strained right now, but it’s critical for job seekers to recognize that even in this tumultuous market companies are still adding to their executive ranks,” said Marc Cenedella, founder and CEO of TheLadders.com, in the press release. “Take the financial sector, for example. Even though thousands of jobs have been lost on Wall Street alone, accounting professionals are in demand. The top three companies hiring in New York right now are accounting firms.”

According to the report, the regional markets with the most favorable $100k+ climates (ratio of job seekers to job postings) were:

  • Washington DC , San Francisco (3:1);
  • Seattle , San Diego, Houston, Baltimore (4:1);
  • Boston
  • Philadelphia , New York
  • Los Angeles , Chicago, Austin (7:1).

Regional markets attracting the highest number of job seekers from other parts of the country were San Francisco, New York, Boston, Seattle and Chicago. Sixty-three percent of job seekers surveyed said they are willing to relocate from their current cities for a new job opportunity – an increase from 55% who said so during the same period in 2007.

In addition, 36% of job seekers said if they could switch sectors they would choose health care.

TheLadders.com’s Quarterly Executive Job Market Trends Report for Q408 is based on hiring patterns in 20 major cities and a survey in December of 929 job seekers nationwide.