Archived MATRIX Outlooks

Year Qtr Newsletter Content Preview
2010 Qtr 2 The second quarter provided us with further optimism as IT employment increased 5% and IT job growth continued to rise, including postings for direct hire positions. Research suggests that tech pros are generally well compensated and employers are budgeting an average of 2.5% for raises this year. However, there is some evidence that many IT workers may be prepping to look for new jobs over the next year. Forecasters believe global IT spending will continue to rise in 2010 and is expected to hit $3.35 trill ion. This is somewhat lower than what was originally forecast due to economic conditions in Europe. In general, the IT market is steadily improving in 2010.
MATRIXOutlookQ210.pdf
2010 Qtr 1 A quarter of the way through 2010 and we are seeing indications of a strengthening IT market. February saw one of the strongest month-to-month gains in IT jobs since 2008. Online job demand increased the last two months, signalling that more companies intend to start hiring again. Average IT salaries experienced a modest gain of 1% nationally over the last six months for 20 of the most common IT positions tracked by MATRIX. Following a decline of 4.5% in 2009, IT spending is forecasted to increase 3.2% this year to $1.5 trillion, returning to rerecession levels. Overall, research shows a stronger outlook for the tech industry in 2010.
MATRIXOutlookQ110.pdf
2009 Qtr 4 Forecasters are predicting an uptick in hiring for 2010 with 20% of employers planning to increase their full-time staff, up from 14% in 2009. As we saw in 2009, there is higher demand for temp labor employment, with an overall 23% increase since July 2009. Several sources reveal that more than half of employers plan to increase salaries for existing employees as well as increase their IT spending for 2010. Another positive trend is the GDP seeing accelerated growth in the last quarter, with its largest quarterly increase since the third quarter of 2003. In general, the market research points to the year 2010 as one of rebuilding and stabilization.
MATRIXOutlookQ409.pdf
2009 Qtr 3 Although the job market is still not great, we are seeing an increase in the number of temporary and contract job opportunities, particularly for IT job seekers.We find there is still strong demand for certain skill sets despite the recession; however, the bi-annual MATRIX Compensation survey shows an average 4% decline in national compensation over the last six months for 20 common IT positions. Still, research shows 27% of companies expect to increase their IT budgets for 2010. Overall, our findings show small steps towards recovery in the market, but we still have a ways to go.
MATRIXOutlookQ309.pdf
2009 Qtr 2 We are hearing fairly mixed messages and continued uncertainty regarding the current labor and economic market. It comes as no surprise that tech layoffs are forecasted to continue for the next six months. Still, many believe hiring will have to pick back up towards the end of the year.
MATRIXOutlookQ209.pdf
2009 Qtr 1 Although overall unemployment has escalated from 4.8% to over 8% in the past year, within IT, unemployment is less than half that figure at 3.2%. However, the average compensation for IT professionals has declined 1% over the last 12 months.We also find there is still a strong demand for certain skill sets even though others may be at a higher risk for layoff. The most marketable skills also receive larger pay increases. The clear takeaway is the need to continually update your skills, especially within the newer technologies.
MATRIXOutlookQ109.pdf
2008 Qtr 4 Tech employment dropped nearly 1% in November after months of running counter to other business sectors.We should expect to see a continued rise in IT unemployment over the coming months but nowhere near to the degree of the mass layoffs experienced earlier this decade. IT budgets as a whole are at the same level as 2008, which is good news considering that other parts of the business have been asked to cut spending. Organizations are much more likely to postpone their plans for hardware upgrades rather than reduce staff. However, salary increases will likely be minimal or flat over the next year, except for certain high demand technologies as SAP, .NET or Java.
MATRIXOutlookQ408.pdf
2008 Qtr 3 Research reveals that unemployment for technology positions is less than one-half that of the labor market as a whole, despite the overall weakness in the economy. Based on our experience, demand for contractors continues to be very strong. That’s good news for IT professionals. However, it can be expected that IT hiring may slow in the near term until businesses begin their next round of expansion.
MATRIXOutlookQ308.pdf
2008 Qtr 2 Are we in a recession or are we not? That determination has yet to be made by economists and government statisticians. However, there is no doubt that the U.S. economy has slowed and the financial services and construction industries are experiencing challenging times. Other industry sectors are growing—led by energy producers and their service companies. Most companies in other industries appear to be on solid ground, but they’re understandably jittery.
MATRIXOutlookQ208.pdf