There are many openings, but companies are now hiring directly, without using staffing firms. Now they're jobless. The softening of the economy has brought big changes to the financial services industry. The freewheeling days of the past couple of years are over. Companies that are still hiring are strategically filling key technical positions.
Companies are also choosier about who they bring on board.
Then there are those firms that are cutting back on projects. What we are seeing is a major retrenchment. Not all recruiters agree with Barrett. For would-be employees, that means focusing on contacting companies directly through Web sites or, better yet, getting referrals from current employees. We're not necessarily canceling all projects.