PPI Chief Economic Strategist Michael Mandel explains to Bloomberg why the recent surge in technology industry hiring is only the beginning of a communications-led economic boom:
A surge in technology-industry hiring is helping to spearhead a jobs-market revival as demand swells for computer-software applications and data.
Online help-wanted advertising for computer and mathematical occupations rose 3.4 percent in January from December to the third-highest since the Conference Board began compiling the data in 2005. Vacancies outnumbered job seekers by more than three to one, according to the New York-based research group. Postings on tech-career website Dice.com are 12 percent higher than a year ago, with openings for workers skilled in mobile applications up more than 100 percent.
“This feels like the beginning of another tech-driven jobs boom,” said Michael Mandel, chief economic strategist at the Progressive Policy Institute in Washington. “The broad communications sector resisted the downward pull” of the recession and “is going to be a leader in the expansion.”
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