Metro regions with a strong technology presence may avoid the dreaded double dip recession, if one actually occurs. According to a blog post in The Wall Street Journal by Sara Murray, areas such as Boston, Raleigh, N.C., and Austin all have benefited from their tech-hub status, by experiencing lower joblessness than the national average, with an 8.4 percent unemployment rate in the Boston area, 8.2 percent in Raleigh and 7.3 percent in Austin as of July. In fact, the continued strength of tech employment has inspired Miami to get into the act by creating a new enterprise zone.
Murray cites several sources in reaching her conclusion, including this quote from The Federal Reserve.
"The Federal Reserve Board's beige book noted strength across the tech sector. Providers of information technology (IT) services such as computer software saw substantial revenue and sales gains in the Boston and Kansas City Districts, with increased demand for IT labor reported in Chicago as well," according to the report.
Companies that made semiconductors and other high-tech products in the Boston and San Francisco experienced an increase in sales whereas demand in Dallas remained steady, but at high levels. And "Manufacturers of high-tech products have been operating near maximum capacity of late," the Fed report states, "although this partly reflects a substantial decline in industry-wide capacity over the past three years."
Although its hiring forecast is not exactly robust, Manpower's survey of 62,000 employers from the public and private sectors validates the notion that most regions in the U.S. may avoid a fourth quarter economic decline. All regions anticipate an increase in hiring during the fourth quarter compared to last year, with the strongest forecasts coming from the Northeast and South and the weakest from the West.
-- Leslie Stevens-Huffman
Post originale: http://career-resources.dice.com:80/articles/content/entry/make_mine_a_single_dip
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