One my favorite and most trusted news sources, in addition to NPR, is the British weekly news magazine known as The Economist. I’ve been a subscriber since the early 1990s, and have never had much cause to regret the $100-plus it costs me to get it delivered to my mailbox 51 weeks a year. I was therefore pleased to see the conclusions in my last Friday’s blog subtantially echoed in a recent story from their August 1 issue entitled “First, the good news.”
Although this story deals with the euro-area economy rather than the US economy, many of the same observations and conclusions emerge from its coverage. Although things still aren’t exactly good, and such recovery as we’ve seen still can’t be characterized as either strong or vigorous, indeed things lately aren’t as bad as they’ve been in the past. In some EU member countries, and some industry sectors, unemployment remains a pressing problem, particularly in Spain where rates in excess of 18% (!) are reported.
In European IT likewise, I suspect that bunker mentality (“hunker down and wait for things to improve”) also prevails. In e-mails from Europeans and Americans working in European IT-related jobs, I’ve confirmed that things aren’t completely dire, but that it’s still not time to be looking for a high-paying new position just yet, either.
Sounds like the situation on both sides of the pond is about the same for IT professionals. Let’s look for more signs of improvement when next month’s Employment Situation posts on September 4, just before Labor Day.