The MATRIX Monitor

The MATRIX Monitor delivers market insight for informed IT hiring decisions.  Produced quarterly, the MATRIX Monitor covers topics on current market conditions for IT professionals, the technology industry, and the economy.

Year Qtr Newsletter Content Preview
2011 Qtr 3 Technology employment has remained above the 4 million mark for two consecutive quarters now and IT unemployment is still well below the national average of 9.1%. With tech unemployment so low at 3.6%, there is indeed a shortage of qualified technology pros, particularly for Java, Mobile, and .NET technologies. Demand has also grown for cloud skills. Research shows tech worker pay is rising slightly and workers express slightly more satisfaction over pay than last year. Global technology spending is on pace to grow 7.1% in 2011 and half of U.S. companies plan to increase their IT spending in 2012. Despite these positive trends in the tech market, we need to be aware of current issues with the economy. GDP growth has slowed this year and some forecasters fear we are entering a new recession based on a persistent downturn in specialized economic indexes.
MMonitorQ311.pdf
2011 Qtr 2 The demand for IT professionals is indeed strong with IT employment finally surpassing the 4 million mark again earlier this year. The hiring outlook is also the strongest it’s been in three years with 28% of employers adding permanent staff in the first quarter and planning to add staff in the second quarter. We’ve also seen a slight increase in technology salaries from last year; however, pay premiums for certifications are actually declining. The forecast for IT spending in 2011 is very high, particularly in the healthcare market that is expected to reach $40B by the end of the year. The economic outlook is somewhat less optimistic with GDP growth slowing during Q1. IT worker confidence also dipped with only 33% of workers believing the economy is getting stronger versus 37% at the end of 2010.
MMonitorQ211.pdf
2010 Qtr 4 Overall, the last quarter of 2010 signified a strengthening tech market with 100,000 jobs added in 2010. Still, the unemployment rate in the U.S. is at 8.9%. Although certain skills and certifications are commanding a premium, pay for tech workers overall has remained flat through 2010. However, more workers received salary increases and bonuses in 2010 than the previous year. Research firms are projecting significant growth worldwide in IT spending, particularly from financial services institutions and banks. 2011 global IT spending is forecast to total $3.6 trillion. Despite a dip in Q2, GDP growth has been on an upward trend through 2010. With these trends, 2011 has the makings of a very strong year for the tech market.
MMonitorQ410.pdf
2010 Qtr 3 Tech market stabilization continued in the third quarter as hiring for IT pros increased as evidenced by a surge in online tech job ads for full-time, contract, and part-time positions. Still, hiring managers are finding it difficult to locate skilled candidates for some open jobs and are even paying a premium for certain skillsets. However, insufficient pay is still a factor for some unemployed workers. Many workers have yet to receive a pay raise this year. Fortunately, CIOs are projecting an 8% increase in their technology budgets in the coming year which may include increased staff compensation. Economic growth has remained fairly stagnant since the first quarter, still it is improved from this time last year.
MMonitorQ310.pdf
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