Business services monitor: third quarter 2009

08/12/2009 15:00

Business services turnover fell again in the third quarter of 2009 compared to the same quarter last year. They realized less turnover than in the previous quarter. Opinions on the current economic climate for enterprises have become less negative.

Higher and lower turnover in business services

Turnover in the business services sector fell by 5,5 percent compared to the third quarter of 2008. Advertising agencies and temp agencies in particular showed substantial turnover losses. As a result of the weakened economy, many temporary workers have lost their jobs. The turnover of temp agencies fell by 12,5 percent. Only a couple of branches in business services were able to increase their turnover in the third quarter, although growth rates were lower than in the previous quarter. Accountants and engineers showed turnover growth.

Year-on-year turnover changes

Substantial decline new vacancies

Some 30 thousand new vacancies were created in business services in the third quarter. This is a decline of 38 percent compared to the third quarter of 2008. Demand for new staff decreased in all branches. In business services 31 thousand vacancies were filled in the third quarter, 20 thousand less than the same period last year. At the end of the third quarter of 2009, almost 23 thousand positions were still open. One year previously, this number was twice as high. The biggest decrease occurred in computer services. At the end of the third quarter, 4 thousand jobs were still open. This is decline of 65 percent compared to a year earlier.

Number of new and filled vacancies

Economic climate still negative

Results from the Business Sentiment Survey of October 2009 show that companies providing business services are still negative about the current economic climate. However, they are less negative than the previous quarters.

Opinions on the economic climate

Negative expectations on work force and prices

On balance, 15 percent of the entrepreneurs expect an increase in turnover for the fourth quarter. They are more cautious about future work force. On balance, 29 percent foresees a decline. Entrepreneurs expect also a further decline in prices.