Crash just started. 40% by mid 2009.

Really2

dopester wrote: »

What about the contractors and employees in IT? My understanding is that there are downward pressures on wages there. Much by way of over-supply except at top-levels where high skills command top money.

Lower wages, a population tapped-out = lower final value product fee.

To tell you the truth the people we supply to are no change (education)

But product wise price are inflated by 20% from summer at the moment.

But in coprates it may be different.

At the moment I am not getting any more CV's (by unenployed people) sent to me than before really.
But that may change soon.
PS we are looking to recruit in Jan. 20% increase in staff. (1 person.:D )

chucky

dopester wrote: »

What about the contractors and employees in IT? My understanding is that there are downward pressures on wages there. Much by way of over-supply except at top-levels where high skills command top money.

Lower wages, a population tapped-out = lower final value product fee.

many London contract rates for existing contracts are being reduced in IT by about 10%. i imagine new contracts would be 10% less but haven't really seen the effects of this as yet. but there has been a slight reduction in contracts out there.

this had happened after 9/11 and then again in 2003 and have seen it before. rates bounced back accordingly though within 6 to 9 months then.

moanymoany

Really2 wrote: »

I think around 30%, it could be 40% just not by the middle of June 09.
Is it wrong to disagree when all pointers are saying they won't fall to that in the time frame the OP says?

No, it's not wrong to disagree. I think that the jury's out on how long it's all going to take. Generali said he thought by the end of next year and then any falls being slow and small, but a long period of stagnation. I think that about echoes my feelings on it.

I was taking issue with kenneyboy's implication that by saying the situation is dire - we are rubbing our hands with glee at the thought of all the misery it is going to bring. I certainly don't feel that way and I don't think many people do.