Boston, San Francisco Shine in Mixed U.S. IT Job Market
Tech employment is showing signs of slowing, but not everywhere. For example, the Federal Reserve reports that demand for certain types of IT skills outstrips supply in some markets -- Boston and San Francisco in particular.
Mon, September 23, 2013
Computerworld — IT employment is showing signs of slowing, but not everywhere. The Federal Reserve said that in some markets -- Boston and San Francisco in particular -- demand for certain tech skills outstrips supply.
The latest edition of the Federal Reserve's Beige Book, as the central bank's commentary on regional economic conditions is called, says that in the New England area, "there remains a shortage of skilled technical workers to fill high-end IT and engineering jobs."
In San Francisco, the Fed reported, demand is forcing employers "to compete vigorously for a limited pool of qualified workers... spurring significant wage growth."
However, the National Association of Colleges and Employers recently reported that the average starting salary for computer science graduates this year fell 2.5% from last year -- to $58,547 from $60,038.
But while starting pay may be lower on average, San Francisco and New England aren't the only locales with strong job markets. The Fed found "large compensation increases" for IT professionals in areas such as Atlanta and Kansas City.
However, the Fed also reported that the hiring picture is mixed in much of the rest of the U.S., and that some tech companies in St. Louis, for example, reported plans to reduce employment.
This version of this story was originally published in Computerworld's print edition. It was adapted from an article that appeared earlier on Computerworld.com.
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