While the Minnesota and U.S. IT employment did not get hit as hard as the 2001-2003 recession no doubt many jobs were lost.
Here in Minnesota we saw a noticeable tone change to the positive this spring, specifically March 2010. By noticeable I mean it went from “sucks” to “eh, the light at the end of the tunnel may not be a freight train coming at us after all.”
Yeah, it was that bad but we have seen a significant number of jobs posted and filled in Q2 and Q3 and expect this to continue into Q4.
I am talking about the IT job market in general, the aggregate. Certainly throughout the “Great Recession” we have seen pockets of strength:
Many with those skill set had no idea that there were bad times going on.
Demand for .NET, Java and Project Managers in Minneapolis is a March 2010 article from Dice.com about the growth seen at the time in Minnesota and what I mention above:
- Jim Miller, a technical marketing and project manager, has seen an more opportunities arise in Minneapolis's IT job market during the last three months, both for contract work and full-time positions in the financial services and medical device industries.
- On Dice, the region's job postings reflect an upward trend, showing a 17 percent year-over-year increase, with 1,129 job posted in February this year, compared to 967 in February 2009.
A couple of recent surveys of the U.S. IT job market show this increase in hiring:
- As the U.S. economy continues to recover, TEKsystems has found that more organizations are feeling increasingly optimistic about their contingent hiring for the next quarter. While 23% of companies planned to increase their temporary IT hiring in the second quarter, 29% plan to do so in the third quarter. This increase reveals that there is a broader sense of optimism among a wider set of companies.
- While the hiring of temporary and permanent employees is expected to increase over the next six months, the survey reveals that hiring permanent employees will outpace temp hiring, another sign of a stabilizing economy.
- Thirty-seven percent of IT decision makers at large companies anticipate hiring additional IT staff in the second half of 2010—up eleven percentage points from June 2009
- “Despite recent economic volatility, many IT decision makers have remained cautiously optimistic about budgets and anticipated IT investment,” said Thomas E. Richards, president and COO of CDW. “As we head into the second half of the year, that optimism is beginning to extend to IT hiring expectations in some sectors. While this positive IT job outlook is still emerging and hasn’t yet translated across all sectors of the IT marketplace, it remains an encouraging indicator of future growth.”
- In addition to increased optimism about IT staffing, IT decision makers also anticipate greater investment in hardware and software for the second half of 2010
Are we out of the woods? I do not think so. Try this:
I think we went from ICU (peak of the recession) and have been upgraded to critical, serious and currently in fair condition. I do not think we get into good condition before the end of the year and do not get out of the hospital until mid 2011.
And that assumes we continue on this anemic recovery. If it slows down (stalls) or we go backwards I hope everyone has a good health care policy.
Surely there are points of strength in the Minnesota and U.S. IT employment market but generally speaking I am still a bit guarded.