While the health and well being of the U.S. economy has become increasingly clouded by turmoil in the financial markets, soaring energy prices, and the upcoming Presidential election, executive recruiters remain confident that the first half of 2008 will be marked by an increase in six figure job growth.

According to a recent survey of more than 138 recruiters conducted by ExecuNet, 59 percent are confident that the executive employment market will improve during the first six months of 2008 and 78 percent are expecting at least a 10 percent increase in search assignments during the first quarter.

Perhaps even more telling, a majority (59 percent) of all search firms are planning to hire additional staff in the first three months of the year to keep pace with the market’s growth.

Where The Jobs Are
Drilling deeper into the search industry’s outlook, ExecuNet’s research reveals that recruiters expect demand for executive talent to be the greatest in the following industries and functions as we head into 2008:

Top Five Industries For Executive Job Growth

1. Life Sciences (pharmaceuticals, biotech, medical)
2. Healthcare
3. High-Tech
4. Manufacturing
5. Financial Services

This marks the first time in three years that Manufacturing has been identified as a top five industry for executive job growth – a resurgence that has undoubtedly been aided by a weak dollar providing a surge in U.S. exports.

Top Five Functions For Executive Job Growth

1. Business Development
2. Sales
3. Operations Management
4. Marketing
5. Engineering

Much like the Manufacturing industry above, Engineering is a relative newcomer to this list. While strength in the Manufacturing sector appears to be helping to increase the demand for executive-level engineers, record profits for companies within the Energy sector and the increased globalization of U.S. companies are also key drivers of this growth.

Given the sharp contradiction between this research on the employment market and much of the economic data currently making headlines, taking a wait-and-see approach to 2008 may seem like the safest bet of all for the executive recruiting industry. Unfortunately, the challenges presented by a tightening employment market cannot be put on hold. With this in mind, it’s clear that the executive search firms that remain fully committed to finding opportunity amid the uncertainty will be best positioned to take advantage of new business development opportunities in what promises to be a very interesting year.

Mark Anderson is President of ExecuNet, the leading executive career, business and recruiting network. For more information on the outlook for the executive employment market, visit www.execunet.com