After nearly 12 months of steady job losses, the IT labor market may be finally stabilizing, according to Virginia-based industry group TechServe Alliance. Since last November, IT employment had declined by nearly 250,000 jobs, or 6 percent. However, only 1,100 jobs were lost in September, a negligible decline. The TechServe Alliance, which conducts an ongoing analysis of IT occupation data, now offers a positive near-term outlook for IT hiring. With promising signs of an uptick in the broader U.S. economy, companies and staffing firms have started to change their view of the IT employment market and could be the first to hire out of a recession.
The U.S. Commerce Department recently reported that the U.S. economy grew by a 3.5 percent annual rate in the last quarter. At the same time, however, there has been little upward pressure on IT wages, according to research firm Foote Partners. Foote said about two-thirds of IT workers have either seen their salaries go down or remain flat over the last year. The economy is having a huge impact on employers just having the freedom to pay what they want, and this trend could persist into 2012. Nonetheless, Foote said there remain many IT skills that are increasing in value, especially in SAP and security.
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