NEWS RELEASE: New Pace U. Report Finds IT Job Market Down Marginally in Manhattan and Remained Flat in Westchester in 2011

FOR IMMEDIATE RELEASE

New Pace U. Report Finds IT Job Market Down Marginally in Manhattan and Remained Flat in Westchester in 2011

New York, NY – February 2, 2012 – The Pace/SkillPROOF IT Index (PSII) registered 106 in Manhattan for the fourth quarter of 2011, down from 110 in the third, and remained unchanged at 158 in Westchester, according to the latest report from Pace University.

“During 2011, the labor market for IT professionals remained relatively stable — up a few percentage points, down a few percentage points, but essentially steady,” according to the researchers led by Farrokh Hormozi, an economist and chair of the public administration department at Pace’s Dyson College of Arts and Sciences. “As a result, the drop of 2 percent since last quarter and a comparable decline year-over-year, are not of great concern. Given the improvement in the labor market as a whole in recent weeks, our expectations for Manhattan IT professionals in 2012 are positive.

“The number of newly created jobs rose significantly, jobless claims dropped and, finally, the unemployment rate decreased as did the number of underemployed and discouraged workers,” the researchers write. “The IT industry in Westchester County reflects this change of direction and may be a leading indicator of what is happening in the market as a whole. The market showed promise during the final quarter of 2011, even though the Index remained steady.”

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.

Of the 11 categories that comprise the Manhattan PSII, four improved substantially and seven declined. The highest demand was for Database Administrator with an increase of over 60 percent, followed by demand for Computer Scientists, Research up 10 percent and then by IT Managers up 9 percent. On the down side, the greatest loss during the fourth quarter was for Systems Analysts at 26 percent.  On an annual basis, the situation was similar. Relative to the fourth quarter of 2010, the biggest gainer in Manhattan was Network Systems and Data Communications Analysts with an increase of 55 percent, and the biggest loser was for Computer Scientists, Research at 70 percent.

In Westchester, six categories rose significantly, two declined and three remained flat. On a quarterly basis, Network Administrator showed the most improvement up 113 percent followed by Systems Analysts up 108 percent. In comparison to the final quarter of 2010, the numbers were even better with the former up 193 percent and the latter up more than 200 percent.  Computer Support Specialists showed the largest overall gain of 700 percent.

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, an economist and chair of the public administration department at Pace’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, wcaldwell@pace.edu

# # #