Those working in Wall Street's IT departments may want to keep an eye on what's happening in Manhattan for two reasons: First, it's one of the nation's largest markets for IT jobs. Second, its connection to the financial sector may make it a leading indicator of recovery trends.
With that in mind, Wall Street and Technology says the latest quarterly report on local IT employment from Pace University found Manhattan IT job postings rose slightly in the first quarter. That could mean a bottom has been reached. On a scale from 0 to 160, the index rose from 41.7 to 42.2. Yes, it's a small increase, but the very fact it's an increase makes it significant.
This snapshot encompasses all 11 standard IT job categories as defined by the U.S. Bureau of Labor Statistics. In Manhattan, seven of those categories were up, with computer programming leading the way. Four categories were down, with software application engineers suffering the most. In nearby Westchester County, home to many Fortune 500 headquarters, computer support specialists, IT managers, and database administrators all saw gains.
Maybe this is only a flicker of optimism, but keeping an eye on them makes sense because as Manhattan goes, so goes the nation.