While sequester is dampening employment, the technology sector sizzles on!
It’s not a great moment to be working for the government, but the private technology sector is sizzling. The coals are hot in disruptive software, digital media, mobile content distribution, HD internet and satellite technologies. Product Management, Development Operations, and Quality Assurance were the hottest hires recruited by Redfish Technology last month.
Mirroring Redfish’s pipeline, employers in the Silicon Valley area plan to increase hiring through the second quarter of the year, according to the latest economic survey by the West Valley Staffing Group. The survey includes hiring managers from industries such as tech, manufacturing, electronics, finance, semiconductor, medical, aerospace and alternative energy.
Exceeding expectations, payroll jobs in February were strong posting a gain of 236,000, following an increase of 119,000 in January and an increase of 219,000 in December. Private payrolls hit 246,000 in February as both goods-producing and service-providing sectors rose. Service-providing jobs, professional business services, trade & transportation, goods-producing jobs, construction, mining and manufacturing were all up.
This month’s job report was positive; recent Beige Book reports from the Federal Reserve Board have also shown that the nation’s economy continues to improve. The month’s average of new applications for unemployment reached the lowest level since March 2008.
Despite sequestering and upcoming minimum wage rate increases, Wall Street is soaring high.