FOR IMMEDIATE RELEASE
“The primary problem inhibiting a stronger recovery appears to be in the public sector. While the private sector has been adding jobs in the past few months, the public sector has been shedding them in great number.”
New York, NY, August 4, 2011 – The Pace SkillPROOF IT Index (PSII) registered 112 in Manhattan for the second quarter of 2011, slightly more than one percent higher than in the previous quarter and over 2 percent higher than a year ago, and registered 156 in Westchester, about 15 percent lower than the strong 185 in the first quarter.
“Although small, the increase in Manhattan is impressive in light of the overall performance of the labor market,” the researchers write. “Also, while the increase in quarterly demand was minimal, it surpassed the values that the PSII registered in the past four years with the exception of the third quarter of 2010 when it was 119.”
“Given the condition of the job market as a whole, and considering the strong showing of the first quarter, a decline of 15 percent in Westchester is not of great concern,” they write. “Indeed, the year-over-year data were more stable, with the Index remaining flat relative to the second quarter of 2010 and much stronger than in the previous three years.”
Of the 11 categories that comprise the PSII, in Manhattan, eight increased, two declined and one remained flat during the recent quarter. Among the gainers, demand for IT Managers was up 9 percent, followed by Network and Computer Systems Administrators, up 7 percent. On the down side, Software Engineers, Systems dropped 13 percent and Database Administrators 12 percent.
In Westchester, five of the categories increased, four declined and two remained flat. On the high side for the quarter, demand for Network Systems and Data Communications Analysts was almost double that in the first quarter while Computer Support Specialists was a third higher. On the low side, both System Analysts and Software Engineers, Systems declined by more than 30 percent.
“The ‘Jobless Recovery’ that had impacted the region to some degree is starting to change,” the researchers say. “Productivity is up, the employment rate for people with bachelor’s degrees and higher is up, and manufacturing jobs are on the rise, albeit minimally.”
“The primary problem inhibiting a stronger recovery appears to be in the public sector,” they say. “While the private sector has been adding jobs in the past few months, the public sector has been shedding them in great number.”
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 and chair of 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
About Pace University: 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