Monday, August 27, 2007

Chicken Little Doesn't Know Everything

As we are all acutely aware, the stock market has been behaving like something you could only find at Six Flags. Given the hype that we get on a minute by minute basis via CNN or MSNBC or whatever oracle you use to get your news fix, it is a wonder that we have anyone left who can look forward to anything.

Okay, maybe that's going a bit too far. I don't know about you, but no matter how you get your news information these days, it really is pretty tough to stay optimistic. Not that those of us here at ExecuNet have any deeper insights into the future than anyone else, nonetheless, in our own small way, some time ago in an effort to try and help our members and readers get a somewhat different perspective on how all this stuff was likely to impact their professional work lives, we set up a place on the site so that senior executives who were interested in getting a 10,000 foot view of the Executive marketplace could check it out from time to time. Over the years it has proven to track very well against what other indices say is going on.

So, to in some way try to counteract recent headlines, be advised that from where we sit, the sky is not yet falling. Based on our monthly polls of both executives (Executive Employment Outlook) and recruiters (Recruiter Confidence Index) we still appear to be in pretty decent shape.

On the executive side which tends to be more conservative than the recruiting world, nearly half of those who responded (46%) were confident or very confident that the market for executives would improve of the next 6 months. That was up 14% from a year ago, and 8% higher than July. When we asked the recruiters the same question, 69% were confident regarding the executive employment outlook for the next 6 months, and while they were not up quite as much month over month as the execs were, they were still up 2% from the July survey.

The two monthly surveys I am citing here are not the only way in which we attempt to take the economic temperature, but over the years they have turned out to be pretty good indicators and we have no reason to think they will not continue to be, so for now anyway, we are still, as they say, bullish.

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