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QUARTERLY IT MARKET REVIEW
Fourth Quarter 2006
Q&A Recruiting is the largest locally-based search firm in Dallas/Fort Worth specializing in Information Technology, Accounting, Finance, Tax and Human Resources. Our on-line quarterly newsletter helps you stay current with local industry news and hiring trends.
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Local Economy and Employment Trends The Texas economy continues to expand strongly, propelled by robust energy and construction industries. Texas’ job growth has been twice as fast as the nation’s for slightly over a year. Most major sectors of the state’s economy are adding workers, including manufacturing. So far this year, Texas employment has increased an annualized 3.2 percent. Reports suggest job growth is being restrained by a shortage of workers The labor market remains very tight, and wages were rising in many industries.. In September, Texas’ unemployment rate fell to 4.8 percent, the lowest since May 2001. Seasonally adjusted nonagricultural employment in Texas increased by almost 28,000 jobs in October, the second largest gain this year. The Texas economy grew by over 215,00 jobs over the last 12 months. Texas employers now have added jobs for 25 consecutive months and 38 of the last 39 months. October’s seasonally adjusted unemployment rate remained steady at 4.8 percent from September and is down from 5.4 percent in October 2005. “The Texas labor market continues to gain momentum, bringing more good news for employers and job seekers as we approach the end of the year,” said Texas Workforce Commission (TWC) Chair Diane Rath. “Jobs grew again this month, and the unemployment rate at 4.8 percent remains at its lowest point in five years.” The Construction industry gained more ground in October, contributing to 17 consecutive months of growth. The industry has grown by 7.8 percent since October 2005. Manufacturing rose to its highest level in more than three years. This month’s gain in Manufacturing represents nearly half of the industry’s added since October 2005. Natural Resources and Mining posted its fifth consecutive month of gains. “Texas employers again demonstrated strong job growth in many areas of the state and many industries,” said TWC Commissioner Representing Employers Ron Lehman. “Ten of 11 major industries had gains over the past 12 months.” Seasonally adjusted initial claims for unemployment insurance declined to almost 56,000 in September, a level not seen since January 1982. Initial claims for unemployment compensation in October 2006 were down 24 percent from October 2005, when hurricane-related claims jumped significantly.
Sources: Texas Workforce Commission, Dallas Federal Reserve Bank IT Job Growth Rate According to the U.S. Bureau of Labor Statistics, five of the top ten fastest growing jobs between now and 2014 – across any industry – will be tech jobs:
Interviews: Turn Your Weaknesses Into Strengths Sometimes, interviewers will pelt you with questions that require you to analyze your weaker traits. The types of questions you are likely to encounter in this style of interviewing include:
Source: WetFeet.com
Are You Being Paid Competitively? As a value-added service to our clients, Q&A Recruiting offers a free local Salary Survey. This data is specifically compiled for the Dallas/Fort Worth area in the disciplines of information technology, accounting, finance, tax and human resources. The Q&A Salary Survey is calculated through a combination of information gathered from local job searches and market input from clients and candidates. The 2007 Salary Survey will be updated by year-end. Click here to receive the latest version as soon as it becomes available. You can view the 2006 survey immediately by clicking here.
Professional Organizations in DFWFollowing are links to local professional networking organizations to help you stay current in your field. We appreciate learning about other associations that you have found to be beneficial, so please share that information by sending an email to lynn@qarecruiting.com.
When Can Loyalty Be Viewed as a Red Flag? When you've worked at only one employer for your whole career, writing a resume that wins interviews may be no easy task. The reason: Some hiring managers and recruiters may take a dim view of your single-company job history. While you might see signs of loyalty or job security, they may wonder why you haven't moved to a better opportunity or been recruited, among other questions. If you have been with one company, it's important to quickly defuse any qualms a hiring manager might have about your job history. Source: Wall Street Journal Online
Holiday Picture of Our Staff Thank you for all you've done to contribute to the growth and success of Q&A in 2006! Click here to view the Q&A group picture.
Contact Us If you are receiving this email, someone from the Q&A Recruiting team has met you or your firm through a business interaction. If this quarterly newsletter has reached you in error, please allow us to apologize for our mistake. We hope that you discover value in our Quarterly Market Review and feel free to share this with colleagues with similar interests.
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This newsletter is published internally by Q&A Recruiting, 14241 Dallas Parkway, Suite 550, Dallas TX 75254. (972) 720-1020. Comments or questions may be sent to Lynn Mazur at lynn@qarecruiting.com.
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