It’s not easy being a software developer, engineer or other IT professional in today’s economy. Yes, you are involved in a fast-moving profession. Yes, you have the potential to earn a good salary, plus nice perks. Yes, if you stay up to date on the latest platforms and paradigms, you are likely to keep your job—and likely to find another job if you seek advancement or if you should wind up unemployed.
On the other hand, even the sizzling stock market is no guarantee that you’ll be able to stay working at the company you like. If you live outside a tech-hub area like San Francisco, Silicon Valley, Austin, Boston, London, Seattle, or other magnet cities, you may also have challenges if your local market cools off.
Let’s look at some statistics that affect you, both as an IT professional and as a manager. These numbers and analysis are courtesy of Randstad Holding, a staffing company with practices in both general IT and engineering.
IT Worker confidence in the economy increases in the third quarter. Technology professionals’ confidence in the overall economy increased by 12 percentage points this quarter, with 42% believing the economy is getting stronger. More than a quarter (27%) say the economy is getting weaker, a notable decrease from last quarter’s 39%.
Increased number of IT workers believe more jobs are available this quarter. A third (33%) of IT workers say more jobs are available, compared to 22% in the second quarter of 2013. Nearly four in 10 (39%) IT employees believe that fewer jobs are now available, a decrease of four percentage points from the previous quarter.
More than half of tech workers are optimistic about their employability. Rising five percentage points this quarter, more than half (52%) of IT workers reported feeling confident in their ability to find a new job.
IT workers’ confidence in their job security rises significantly. A majority (77%) of IT workers report that it is not likely they will lose their job in the next 12 months, rising a significant 19 percentage points from the previous quarter.
The data for highly specialized engineers is slightly different than for other IT professionals: