New Pace U. Report Shows Manhattan’s Information Technology Job Market Decline is Slowing

FOR IMMEDIATE RELEASE

Contact: Bill Caldwell, Office of Public Information, Pace University, 212-346-1597, wcaldwell@pace.edu

NEW PACE U. REPORT SHOWS MANHATTAN’S INFORMATION
TECHNOLOGY JOB MARKET DECLINE IS SLOWING

Growth in Westchester County defies overall job market

New York, NY – April 9, 2008 – The market for IT jobs in Manhattan continued to decline in the first quarter, but at a much slower rate than in the last, according to the latest Pace/SkillPROOF IT Job Index Report (PSII), out today. Westchester County’s overall job market for IT professionals reversed itself, showing a significant upturn.

The PSII is a composite index that provides a quarterly snapshot of the IT job markets in Manhattan and Westchester County in separate reports. The indexes are based on 11 standard IT job categories defined by the U.S. Bureau of Labor Statistics.

In Manhattan, the behavior of the IT job market during the first quarter of 2008 exceeded expectations, and was contrary to that of the labor market as a whole. While the employment picture in New York City was declining, the IT employment market slowed its pattern of decline of the past three quarters and dropped by only 6 points. Of the 11 job categories, the largest gain was for IT Managers, followed by Software Engineers/ Systems, and Systems Analysts.

Defying the overall job market, IT employment in Westchester County showed significant growth in the first quarter of 2008 after a fourth quarter decline in 2007. Of the 11 job categories, five showed substantial increases, two remained flat and four declined.

The reports are available at www.pace.edu/PSII.

The partners. The PSII was developed and is calculated by Farrokh Hormozi, PhD, professor of economics and public administration in Pace University’s Dyson College of Arts and Sciences. It is based on labor market data provided by Henning Seip of SkillPROOF, Inc. The index is produced under the auspices of Pace’s Seidenberg School of Computer Science and Information Systems.

A private metropolitan university, Pace has campuses in New York City and Westchester County, New York, enrolling more than 13,000 students in bachelor’s, master’s, and doctoral programs in the Dyson College of Arts and Sciences, Lienhard School of Nursing, Lubin School of Business, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. www.pace.edu.

SkillPROOF Inc. is a technology firm specializing in job market research. Headquartered in New York City, since 2003 it has tracked and analyzed job openings from brand name employers in the United States, using proprietary Internet technology. www.skillproof.com

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