NEWS RELEASE: IT Job Market Continues Recovery in Manhattan, Registers Impressive Gains in Westchester, New Pace U. Report Finds
FOR IMMEDIATE RELEASE
IT Job Market Continues Recovery in Manhattan, Registers Impressive Gains in Westchester, New Pace U. Report Finds
New York, NY – April 21, 2011 – The Pace SkillPROOF IT Index (PSII) registered 111 in Manhattan in the first quarter of 2011, slightly more than one percent higher than in the previous quarter and over 49 percent higher than a year ago, and had a strong showing in Westchester, rising from 141 to 185 and surpassing growth in the labor market as a whole.
“The increase in quarterly demand in Manhattan was minimal but not worrisome considering the impressive overall improvement throughout 2010,” the researchers write. “On an annual basis, the IT labor market in Manhattan increased by an average of 3 percent during each of the four quarters of 2010, making up the losses from the previous year.”
“In Westchester, the demand for IT workers is increasing, and signs of faster growth and an improved labor market are visible,” they write. “The index reported an increase of 31 percent over the last quarter of 2010 and an impressive 74 percent rise over a year ago.”
Of the eleven categories that comprise the PSII, in Manhattan, seven increased and four decreased during the first quarter. Of those showing gains, Systems Analysts was the largest at over 30 percent followed by Software Engineers at slightly more than 10 percent. Of the four that lost ground, the percentage decreases were slight, with IT Managers dropping 9 percent and Other Specialists by approximately 2 percent.
On the high side for the quarter, in Westchester, demand for Systems Analysts increased by 130 percent followed by Computer Support Specialists at 94 percent. Computer Scientists, Research and Software Engineers, Systems also increased, although less dramatically, by 37 percent each. On the downside, demand for IT Managers fell 28 percent.
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 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 105 years, Pace University has educated 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, College of Health Professions, 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
Media contact: Bill Caldwell, Pace University, 212-346-1597, firstname.lastname@example.org
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