| April 2007 |
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| Job listings at Dice are at a two-year high as new economy endeavors take off |
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| Here's some good news for IT experts in Boston and throughout Massachusetts from The Ewing Marion Kauffman Foundation's 2007 State New Economy Index report. "The state farthest along the path to the new economy is Massachusetts. After topping the list in 1999 and 2002, Massachusetts has increased its lead over other states in 2007. Massachusetts boasts a concentration of software, hardware, and biotech firms that are supported by world-class universities such as MIT and Harvard in the Route 128 region around Boston. The state survived the early 2000s downturn and has continued to thrive, enjoying the fourth highest increase in per capita income between 2002 and 2005." Statewide, 6.46% of all jobs are high-tech jobs, a measure that leads the nation. (Virginia is second at 5.8%). That all sounds pretty impressive.
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In fact, Massachusetts has become so vibrant that it's in danger of shutting out younger workers due to a lack of affordable housing. In a January article in The Christian Science Monitor, experts pointed out that 37% of residents over age 25 have a bachelor's degree, well above the national average of 28%. They also noted that the state ranks third in research and development dollars, reeling in nearly 11% of the nation's total venture investments in 2005. In the 2006 Dice Salary survey, Boston IT salaries were the second highest in the nation, just behind Silicon Valley, and up 1.38% over 2005 to $80,308. At the same time, the median price of a single-family home in Massachusetts is $315,000, while in some Boston suburbs, it approaches $1 million.
It's a weird confluence of economic realities, but the bottom line is that IT experts with extensive resumes can find great positions in a variety of industries. Boston is hot, but so are outlying cities where employers are looking to relocate in order to find their workers affordable places to live.
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| "Employment demand remains high in Boston and is expected to remain strong through 2007" |
| - Terrence O'Leary, branch manager of Sapphire Technologies |
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It should come as no surprise that the Hudson Employment Index, a measure of overall employee confidence, is at 105.7 for Boston, the highest it's been in a year.
The Dice numbers bear out the findings of those experts. With more than 4,000 current jobs listed, Boston listings are up a nation-leading 38% for the first quarter and are at a two-year high.
Perhaps all that activity will provide encouragement for David Desley, a mainframe IBM OS/MVS COBOL programmer living south of Boston who has yet to ride the statewide wave of new economy excitement. "I'm finding opportunities limited, and those that are available are very competitive and hard to land,” says Desley. I worked at Fidelity Investments for 14 years and got laid off in 2002. I was out of work for two years and then worked one year at Clark University and one year at CVS on three-month contracts. Since January 2005, I've only found three suitable interviews."
Some recruiters seem to be echoing Desley's frustration. IT staffing consultancy Robert Half Technology, whose second-quarter IT Hiring Index was just released, finds that just 10% of Boston CIOs plan to make new hires this quarter, not a particularly high number when compared to other major metro areas.
According to the Manpower Employment Outlook Survey, Boston-area employers across all industries and positions expect to hire at a modest pace during the second quarter. According to Timothy Dailey, Manpower spokesperson, from April to June, 15% of the companies interviewed plan to hire more employees, while 13% expect to reduce their payrolls.
Which positions are hottest? Terrence O’Leary, branch manager for IT recruiter Sapphire Technologies, says that "Employment demand remains high in Boston and is expected to remain strong through 2007. We see a need for more project managers, business analysts, business analysts with financial services knowledge, infrastructure experts, and operations support personnel."
According to Business 2.0 magazine, the fastest-growing company in Boston is digital marketer Digitas. A quick scan of its job postings finds current open positions for senior software engineers, interactive project managers, usability designers, and more.
The bottom line in Boston and environs: experience counts, and a targeted resume showing specific skills will serve job seekers well. Here's hoping they can also find an affordable home.
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If you would like to be interviewed for the next Dice market report, please contact us at feedback@dice.com.
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| Dice job postings in Boston are up 38% since Dec. |
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