The U.S. economy added 117,000 jobs in July, more than in May and June combined, yet there's plenty of gloom and doom among the pundits.
Such as this, from Bloomberg quoting Richard DeKaser, an economist at Parthenon Group in Boston:
There is not a lot to celebrate even though it was better than most feared.
And this from U.S. News & World Report quoting Patrick O'Keefe, director of economic research at accounting firm J.H. Cohn and former deputy assistant secretary in the U.S. Department of Labor:
Given that expectations had fallen so low, even a snail could've jumped over the expectations.
Yet the tech job market continues to fare far better than the overall job market. In June, when the nationwide unemployment rate was 9.2 percent (it slid to 9.1 percent in July), the unemployment rate for tech professionals dropped to 3.3 percent, from 5.3 percent in January, according to a Bloomberg story in the San Francisco Chronicle. Janco Associates reports the Labor Department shows 5,300 IT jobs added in July, though a decline from the 5,900 in June.
The Register breaks out the tech jobs in the July report this way:
Though the unemployment issue in the overall economy continues to weigh on the national psyche, recent reports show confidence and increased hiring expectations for the tech sector for the remainder of the year.
Janco CEO Victor Janulaitis is quoted on ejobdescription.com predicting a soft IT job market and more turnover for at least one more quarter as CIOs move to more flexible staffing models and cloud computing.