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Traditionally IT workers have had good wages and a choice of jobs but this is changing and many are finding it hard to even find work now in most areas of IT.

According to a report by Robert Half Technology many companies aren’t planning on taking on extra IT staff during the next quarter. This is a stark contrast to the booming IT market of recent years but since the major technology companies suffered losses as technology stocks and investment plummeted an air of caution has been created halting the development in many key technology-related areas.

The chief executive of Robert Half Technology has stated that “Companies remain hesitant to make major technology investments”. Demand has increased in some areas, however, and the report claims that in finance, biotechnology, network security and health demand for IT professionals has gone against the trend and the number of jobs available has increased.

Finance is the main area that has shown potential increases in their IT workforces as 20% of the companies surveyed in this field claimed they would be increasing job opportunities. Talking about the areas where these opportunities exist, the CEO went on to say that "While the Silicon Valley remains in a downturn (these industries) in the Northwest and in Southern California are expanding and reporting demand for IT personnel".

To read the full press release click read more.

News source: ZDNet

Taken from Robert Half Technologies Homepage

"Press Release


For Immediate Release
November 25, 2002

CIOs INDICATE TECHNOLOGY HIRING WILL HOLD STEADY IN FIRST QUARTER
Pacific Region Leads Nation in Anticipated IT Employment Growth, Survey Shows


MENLO PARK, CA -- Hiring activity in the first quarter of 2003 will remain at fourth-quarter levels, according to Robert Half Technology's Information Technology Hiring Index. Eleven percent of chief information officers (CIOs) surveyed expect to add information technology (IT) staff and 3 percent foresee personnel reductions. The net 8 percent increase is unchanged from the fourth-quarter forecast. The majority of executives, 86 percent, plan no change in hiring activity.

The national poll includes responses from more than 1,400 CIOs from a stratified random sample of U.S. companies with 100 or more employees. It was conducted by an independent research firm and developed by Robert Half Technology, a leading provider of information technology professionals on a project and full-time basis.

"Companies remain hesitant to make major technology investments," said Katherine Spencer Lee, executive director of Robert Half Technology. "IT spending is currently focused on initiatives that provide an immediate return on investment, including upgrades of existing operating systems and projects that help retain customers such as improved online accessibility to account information."

Lee added that network security concerns continue to be a priority for businesses of all sizes. "There is strong demand for IT professionals who can manage everything from assessing potential network vulnerabilities to integrating virus protection, intrusion detection and other components into an enterprisewide security strategy."

Regional Outlook
The Pacific1 states are expected to lead the nation in IT hiring activity during the first quarter. Nineteen percent of CIOs plan to expand their IT departments and 4 percent anticipate personnel cutbacks, for a net 15 percent hiring increase.

"While the Silicon Valley remains in a downturn, biotechnology, financial services and health care companies in the Northwest and in Southern California are expanding and reporting demand for IT personnel," Lee said. "In addition, firms trying to utilize customer data more efficiently are seeking individuals skilled in designing and managing data warehouses."

CIOs in the East North Central2 and West South Central3 states also forecast hiring activity above the national average. Fourteen percent of technology executives in the East North Central region expect to add staff and 4 percent foresee personnel reductions, resulting in a net 10 percent hiring increase. In the West South Central states, 13 percent of CIOs plan to expand their IT departments and 3 percent anticipate staff cutbacks, for a net hiring increase of 10 percent.

Industries Hiring
CIOs in the finance, insurance and real estate sector are most optimistic about hiring in the first quarter. Twenty-three percent of technology executives expect to add personnel and 3 percent forecast staff reductions. The net 20 percent increase in hiring is more than double the national average.

Hiring activity is also expected to exceed the national average in the wholesale and business services industries. CIOs in both sectors expect a net 14 percent hiring increase. The retail industry should also see strong technology employment gains, according to the survey, with a forecast net 12 percent hiring increase.

With more than 100 locations in North America, Europe and Australia, Robert Half Technology is a leading provider of IT professionals on a project and full-time basis, for initiatives ranging from e-business development and multiplatform systems integration to network engineering and technical support. For more information about Robert Half Technology or to learn about online job search opportunities, please visit www.roberthalftechnology.com

1 Alaska, California, Hawaii, Oregon, Washington
2 Illinois, Indiana, Michigan, Ohio, Wisconsin
3 Arkansas, Louisiana, Oklahoma, Texas"