It depends on where you are in your career--and probably what country you're in. We'll assume you're talking about the US since you didn't list any specific country.
When first graduating college an objective is important. Most seniors look very very similar--same classes, similar internship experience, etc. An objective is one way to separate people. It's also filler as most college seniors don't have enough to fill up an entire page.
After about 3-5 years people have enough experience to start to distinguish themselves. The objective is implied in the application, your objective is to get the job to which you're applying.
Joined: Jul 10, 2009
Thank you Mark for the explanation and I apologise for missing out the required information in the post.
I have about 3.5 years of experience and java j2ee and am looking for a job change. I am based in India.
I was earlier confused if the objective can be used to put the specific reasons of why I am looking for a job change (More Money, Better technology, Locational constraints, etc..) or if it needs to have your long term Career objective.
From what I understood is that if you have some experience then it is understood from the application what your objective is and you don have to write it explicitly.