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Contact: Bill Caldwell, Office of Public Information, Pace University, 212-346-1597, firstname.lastname@example.org
INFORMATION TECHNOLOGY JOB MARKET SHOWS DRAMATIC INCREASE IN MANHATTAN AND SURPRISING STRENGTH IN WESTCHESTER, NEW PACE U. REPORT FINDS
New York, NY – January 21, 2010 – Job postings for IT professionals increased dramatically in Manhattan and showed surprising strength in Westchester County, according to the fourth quarter Pace/SkillPROOF IT Index Report (PSII), out today.
“Our cautious optimism for the 4th quarter was on target,” the researchers write about Manhattan. “As the overall US labor market shed an additional 85,000 jobs in December despite a 4,000 job gain in November, the Pace/SkillPROOF IT Index registered a dramatic 47 percent increase, jumping from 43 to 63. After dropping steadily for the past few years, this increase is certainly a promising indicator.”
The index also jumped dramatically in Westchester County, from 43 to 85, nearly doubling its value. The report says that in the US, “monthly unemployment numbers dropped in November for the first time since the recession began two years ago but failed to hold up in December. However, the local Westchester job market, and the IT job market in particular, fared far better than that of the nation as a whole.”
The PSII is a composite index produced by Pace using data from the SkillPROOF company that provides a snapshot of IT job openings at major firms in separate reports for Manhattan and Westchester County. The 11 standard IT job categories are those defined by the U.S. Bureau of Labor Statistics.
In Manhattan, the phenomenal increase was widespread across the 11 job categories with the exception of Network and Computer Administrators, the only sector that declined. The most active sector was Software Engineers, Applications, with a 102 percent increase over the 3rd quarter, followed by Systems Analysts with 56 percent and Computer Support with 49 percent.
In Westchester, although the index increased impressively, the increase did not distribute itself evenly throughout all 11 industry categories. Only five showed signs of improvement while one remained flat and five declined slightly. On the positive side, the phenomenal improvement was primarily the result of strong demand in two job categories, Computer Programmers and Computer Scientists, Research. For the former, job postings increased by over 130 percent; for the latter by 110 percent. Of the remaining categories, the index showed improvement in demand for Software Engineers, Applications; IT Managers; and Systems Analysts. The greatest decline in demand was for Network Administrators.
“Technology can help cut costs during a downtrend and drive a business during a recovery,” said Sunil M. Verma, PhD, VP Information Technology, Macy*s, and Chief Information Officer, CIOs Without Borders. “During the last year we’ve seen non-IT companies increasingly turn to technology to streamline their operations.
“In the 4th quarter there also seemed to be resurgence in IT investing to drive market share increases. Cloud computing appears to be keeping the demand for database experts and Web developers strong; recognition of the power of social media and internal knowledge sharing has resulted in increased budgets in corporate marketing and communications departments; and the demand for developers with portal or smart phone application experience is high. “It is still a buyers’ market and companies are looking for innovative IT professionals with technical skills, communication abilities and a willingness to learn the business.”
The reports are available at http://www.pace.edu/pace/seidenberg/features-special-events/paceskillproof-it-index/
The Index partners. The PSII was developed and is calculated by Farrokh Hormozi, a professor of economics and public administration in Pace University’s Dyson College of Arts and Sciences. It is based on labor market data showing actual, listed openings that is 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. www.seidenberg.pace.edu
For 103 years Pace University has produced thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, Lienhard School of Nursing, 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 Bridgeport, Connecticut, 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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