The rollercoaster that is the IT index again moved into top gear, gaining 35% in October after the previous month's 23% loss. Among the states, New South Wales was particularly strong in offline advertising, and in October the online industry also came to the party to promote the overall positive result.
Other states to perform well included Western Australia and the ACT. Information Technology is clearly the most volatile index on a month to month basis, perhaps reflecting the fast-moving pace of the IT product cycle. However, the trend over the past three years has been a steep climb, with the jobs index up 93% since October 2003, abeit off a low base after the post Y2K crash.