Posts Tagged ‘technology’

CBS News: Employment Freeze Thaws in Some Industries

Monday, October 5th, 2009

From CBS News: AT&T held a job fair in Massachusetts this week, looking to hire 100 sales people for its stores.

“Folks that would never have thought to work in retail before are coming out of the woodwork,” Steve Krom a vice president of AT&T New England.

Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled, reports CBS News correspondent Anthony Mason.

“I think the worst is over, but that doesn’t mean you go straight up from here. I think it is going be a long slog to get us out of this hole we’ve dug ourselves into,” said David Wyss, chief economist with Standard & Poor’s.

According to a new survey, only 40 percent of employers are planning to rehire former workers. So new jobs will need to come from new industries.

US News: 10 Best Places for Tech Jobs

Tuesday, September 15th, 2009

From US News and Reports: 10 Best Places for Tech Jobs -
These cities boast economies where job openings are the most numerous.

It’s a recession, so few things are booming and no city is exactly thriving. But within the tech industry, some cities clearly have more job opportunities than others. Although tech employment overall has suffered along with the rest of the economy, there’s been variance: High-tech manufacturing jobs have been shed more rapidly, while IT service jobs—in engineering and in software services, for instance—have fared better. And one future bright spot: Over the next three years, the federal government is projected to make 11,500 new hires in information technology jobs, according to a report by the Partnership for Public Service.

Boston
Boston has become a hotbed of high-tech innovation in fields such as biotech and software, says Robert Buderi, founder and chief executive of Xconomy. Universities like the Massachusetts Institute of Technology and Harvard University are a powerful draw for employers—and highly fertile ground for start-ups. Last year, when Microsoft opened its first East Coast research lab in nearby Cambridge, the company touted its ability to reach the “large community of scientists in New England, notably the faculty and students at the many premier academic institutions in the vicinity.” The Bureau of Labor Statistics reports that programmers and software applications engineers in nearby Lowell, Mass., rank among the highest paid in all U.S. metro areas. Silicon Valley may once have been a necessary career stop, but today, tech workers can spend their entire careers in New England, Buderi says.

Connecticut Needs To Plan, Support A New Economy

Tuesday, September 15th, 2009

From Today’s Hartford Courant: Fixing Connecticut’s economy seems to be a cynically amusing game of Let’s Blame Somebody Else.

… We’re creating no new jobs. That’s a 20-year trend, according to UConn economist Fred Carstensen. The anchor of Fairfield County — where half of our income tax revenue comes from — consists largely of high-wage earners from the financial services industry. As these highly specialized Wall Street jobs evaporate, these people, in the words of Bank of America Securities-Merrill Lynch economist Drew T. Matus, “have no skills.”

Unemployment levels are going to linger at 10 percent or above well into next year. So while it’s great that we were able to come up with $100 million to try to save 1,000 Pratt & Whitney manufacturing jobs for a little longer, has anyone thought about what $100 million could do to support cutting-edge biotech industries that might sustain us for decades?

… Matthew Nemerson, president of the Connecticut Technology Council, told me that we remain stuck in “a ‘gotcha’ mentality: Who raised taxes, who cut them?”

“We should be spending a lot of time not blaming each other but saying, ‘Oh my goodness, what is happening?’”

What’s happening is that new jobs are in education and health, and not manufacturing. Financial services jobs are not going to sustain us. We need to plan for — and support — a new economy. That’s no game.