June 18, 2008

Market Conditions for IT Professionals & the Tech Industry

The Matrix Monitor - Q2

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.Those of us in IT feel fortunate not to be in the storm we encountered six or seven years ago with the bursting of the dot-com bubble. Our industry has not been affected by large layoffs and high unemployment. Also, technology is embraced today by the business community for its cost-savings and productivity benefits in addition to being a tool for generating business via the Web. Permanent or direct hiring has slowed due to hiring freezes but the demand for IT contractors has been quite strong as companies use creative means to increase their teams for key technology initiatives.

IT professionals with top notch skills continue to be in high demand.The quarterly MATRIX Monitor summarizes the latest research to update you on current and near-term market conditions for IT staffing, the technology industry, and the economy. As always, your feedback is welcome-please let us know how we at MATRIX can better serve you.

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