Largest Quarterly Gain Since 2004 in Manhattan IT Job Market and Dramatic Growth in Westchester County, New Pace U. Report Shows
New York, NY – July 22, 2010 – The information technology job market showed remarkable strength in Manhattan and an impressive increase in Westchester County, according to the second quarter Pace/SkillPROOF IT Index Report (PSII), out today.
The index for Manhattan surged from 74 to 110, a 47 percent increase which was the largest quarterly gain since the data were first gathered in 2004. “The increase is particularly reassuring because it follows three consecutive quarters of an improving job market, indicating an enduring recovery for Manhattan IT professionals,” the researchers write.
The 24 percent rise in the index reported for Westchester County during the 1st quarter of 2010 was surpassed by an even more impressive increase during the 2nd quarter. The PSII currently stands at 156, up from 106, representing a robust increase of 50 percent for Westchester.
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.
The largest contributors to overall growth in Manhattan were IT Managers, at 61 percent, followed closely by Network and Data Communications Analysts, at 60 percent. Categories showing smaller gains include Database Administrators, at 14 percent, and Network Administrators, at a 16 percent increase.
In Westchester, although growth was uneven among the 11 standard IT job categories, the leading occupation was once again Computer Scientists, Research, which increased by more than 53 percent. Following people in that category were Network Administrators at 39 percent and IT Managers at 36 percent. Other categories did not fare as well. Two declined and five remained flat. The poorest showing in the second quarter was in the market for Software Engineers, Systems, which declined by over 40 percent.
“In recent years, technical innovation has helped many companies reduce costs, increase efficiencies, and exploit new revenue opportunities,” said Louis A. Trebino, Jr., Senior VP & CIO, The Harry Fox Agency, Inc., in a sidebar of the report. “Indeed, technological innovation has been a key driver to survival during these turbulent times.
“As companies begin to rebound from the recession, IT employment opportunities are likely to increase. Leveraging this innovation and ongoing capitalization of growth opportunities ensures the continuous need for seasoned IT professionals, particularly IT managers.
“In addition, a growing trend is the need for business-savvy technologists who can readily demonstrate the value of IT as a strategic business enabler. This further solidifies the growing demand for IT professionals in what is otherwise a less than favorable employment environment.”
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 104 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