ICT companies continue to outperform service sector in employment and business despite impact of coronavirus

ICT companies continue to outperform service sector in employment and business despite impact of coronavirus

Despite the current economic context marked by the consequences of the coronavirus, the ICT sector continues to maintain itself at a great distance from the rest of the companies in the service sector as a whole, especially when it comes to the demand for specialized talent. In total, 6 percentage points separate the two sectors of activity.

This is reflected in the new installment of the TIC Monitor report prepared by VASS and the CEPREDE Economic Prediction Center, which shows that despite the recovery of the hotel industry in the summer, service companies remain in the doldrums compared to those in the hotel industry. TIC. .

“It is a stationary situation, where the jobs destroyed are for the moment compensated by those which are created. Smaller companies with business experience, on the one hand; and the large companies with the most critical fixed costs at the other extreme suffer the most. However, there is a very powerful base of agile and dynamic companies which remain combative in a market which is one of those which will undoubtedly emerge stronger from this crisis ”, says Antonio Rueda, director of VASS Research and ICT monitor manager.

This situation is reflected in the evolution of turnover, which fell by -13.5% year-on-year but which nevertheless improved that of the previous month’s delivery (-14.2%) and consolidates a slow trend. but steady since May thanks to the technological flexibilities available to the activity itself and which give it greater resilience.

Mistrust and bond of opinions of employers

Despite this distance and unlike last month’s delivery, businessmen no longer see the future of the sector so clear. If last month 62.5% of entrepreneurs trusted revenue growth through the end of the year, this month it drops to 50.9% due to the resurgence of the second wave. “Differentially, our country threw a pitcher of cold water on the previously optimistic perception of a stabilization of the situation closer and closer in time,” explains Rueda.

The same is true in the area of ​​net job creation, the indicator rising from +14.3 points to +7 points on a scale of +/- 100. In other words, only 53.5% of ICT entrepreneurs predict net job creation in the short term (November-December-January).

Compared to the EU-27 data, ICT companies also lower their expectations in both areas, but they do so only slightly and in both cases they still perform better than Spanish companies. “Both in activity and in employment, October took Spain away from Europe, due to the differential worsening of the second wave and the particular political uncertainty resulting from an always complex negotiation of majorities , tortured by the heterogeneity of a hemicycle permanently installed in radicalism. »Said Rueda.

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