According to Paul DeBettignies AKA Minnesota head hunter the unemployment rate in IT (Information Technology) is less that 2%. There is a shortage of workers.
I attended the most excellent Minnebar conference on Saturday and all of the major sponsors have job openings.
This is good news for the housing market. When people have good jobs they buy houses and a whole lot of other things. Some of the things Paul told us reminded me of the late 1990’s. I used to work in technology for a company called Analyst International and for a time most of my job had to do with retaining talent.
The over all unemployment rate in Minnesota hovered around 2.5% in the late 1990’s. Today we are at 5.7%. The recession did not treat everyone equally. The hardest hit groups employment wise were those who are under 27 or over 50.