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Good News for IT professionals? - Ray of Economic Light Shines in July........

Here's some upbeat info to share as the week kicks off to a new start! 

Data just recently released by the Department of Labor, suggests that there has been a "startling increase in IT related jobs in the month of July following several months of decline."

According to Foote Research Group, an independent IT research company that provides pragmatic and forward-thinking advice about managing technology and the IT professional workforce, there has been a net gain of 7,400 IT-related jobs in July following a loss of 7,600 jobs in June. 

Excellent news!  What remains to be seen is if this is the turnaround we've been waiting for, or a temporary uptick in the economy.

There is good reason to believe that this trend will continue, and other economic data indicates that we may have bottomed out of the recession.

My personal experience has shown the increase number of calls from recruting agencies across America with new jobs and positions beginning to open up.  This from nary a call or follow-up in June.

While the market remains competitive, especially for the SQL DBA, companies are starting to show some movement in its hiring practices.

What I have seen, is that due to the "shock" of the slumping economy, companies have been putting the brakes on IT spending and hiring, pending the hoped for improvement in the economy.  They sat on their IT budgets for so long, as the business needs continued to grow , they're now at the point that if they do not start staffing their teams, the business could suffer.  Basically, this dictates the need to start hiring.

We also see the NASDAQ, which carries most of the technology stocks, outperforming the DOW, which tells us that companies have been investing in technology, and now need the people to manage it.

You can read the FULL Foote Research Group report here: http://www.footepartners.com/FooteNewsrelease_DOLJuly09LaborReportAnalysis_080909.pdf

Let's keep our computer wires crossed!   

http://www.pearlknows.com

Comments

Posted by Anonymous on 4 September 2009

Job Market Update and some Job Search Adviceā€¦.. Not too long ago, I posted a blog on the possible thawing

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