The managing director of multimedia recruitment consultancy NewMediaCV has warned against unnecessary panic at the changing fortunes of companies operating in the e-business arena in Ireland.

Mr Dermot Rogers said there were more employment vacancies in the e-business sector than there were suitable candidates.

"Employees and job seekers should not be demoralised by recent upsets," he said. "In the e-business, Web and multimedia sector, things have tightened up in line with trends worldwide but there is no need for anxiety about career security. In fact, all recent local and international forecasts still emphasise that demand is exceeding supply and that there is still relatively rapid growth in e-business markets."

Even though some e-business companies have slowed down their hiring activity, Mr Rogers said there has still been a growth of between 10 per cent and 20 per cent in the salary levels on offer over the past six months across a range of positions. However, the level of increase has declined on the previous six-month period when salary level growth stood at 25 per cent.