Given the current economic environment, it’s fair to speculate that a majority of the nation’s 2.9 million college freshman feel anxious when faced with declaring a major or choosing a career path. Although, according to data collected by The Bureau of Labor Statistics, students considering a career in Computer Science/Information Technology and Engineering may have a little less reason to stress.
With a projected growth rate of 22% from 2006 to 2016, a future career in Computer and Information Science sounds pretty bright and Network Systems and Data Communications Analysis even brighter, with an expected growth of 53% for the same period. While Engineering is forecast to grow by a rate of 11%, trend areas like biomedical, environmental, and industrial engineering are expected to exceed 20% growth by 2016…
Dallas-based Affiliated Computer Services, Inc. announced that it will be expanding its operation to Colorado Springs, adding 600 employees. The move will more than double its Colorado staff and is projected to make an estimated $100 million impact over five years.
U.S.News & World Report recently named engineering one of the top careers of 2009. It won its spot on the list thanks to an incredibly low turnover rate, a strong demand for engineers, and a very high pay rate for bachelor’s-level professionals.
The article advises those in the field to keep an eye on offshoring, however, since it could lead to engineers losing their jobs to those in low-cost countries like India and China.
The job market for many engineering specialties will continue to stay strong in the private sector in 2009, but the most secure jobs remain in the government. According to PayScale, the median salary for engineers (with eight years in the field) is $80,300.
The Software & Information Industry Association (SIIA), the principal trade association for the software and digital information industry, recently released a first-of-its-kind report that measures the substantial economic impact of the software and information (S&I) industries on the U.S. and global economies. The report, entitled “Software & Information: Driving the Global Knowledge Economy,” finds that these industries are among the fastest growing and most important for propelling continued economic growth-both in the U.S. and globally.
“This report shows the critical role that the software and information industries play in a vibrant and dynamic U.S. economy. It underscores the importance of continued U.S. investment in innovation and technology,” SAYS Ken Wasch, SIIA President.
“The report’s findings take on an increased importance in the midst of our current economic uncertainty,” Wasch continues. “The demonstrated high-growth potential of software and information companies, along with their leading role in the digital revolution that is transforming all sectors of our society, will continue to propel the U.S. economy forward.”
The Report’s key findings reveal that software and information industries:
-Experience faster growth than overall U.S. economy. The rate of growth in the S&I industries significantly outpaces that of the U.S. economy as a whole. Recent growth of 10.8% compared to 3.2% GDP growth helps to sustain the expansion of the overall American economy.
-Generates millions of jobs for Americans. The U.S. software and information industries employ more than 2.7 million Americans, with 17% net employment growth between 1997 and 2006.
-Creates high-wage jobs. Employees working in the nation’s S&I industries are well compensated, earning among the highest wages in the country. The annual average wage paid in the S&I industries was $75,400 in 2006, 78% higher than the average $42,400 for all private-sector workers.
-Competes successfully around the world. American firms comprising the S&I industries are world leaders, selling products and services in markets around the world with strong sales and revenue growth. S&I direct sales through U.S. affiliates are over $60.4 billion, 13% of the total $483 billion for all U.S. companies. Additionally, the S&I contributed another $19 billion in cross-border exports.
-Propels global ICT spending. Global ICT spending, a broad basket that includes a measurement of expenditures for software and computer services is greater than $3 trillion and is projected to grow to approximately $4 trillion in 2008.
“It is clear from these findings that the digital revolution is spurring an unprecedented level of innovation and growth, providing significant new opportunities for software and information producers and their customers,” continues Wasch. “Innovation in the software and information industries is clearly a critical reason why the U.S. continues to be the global economic leader, but there is little room for complacency if America hopes to maintain its leadership position.
Sustaining-and growing-the significant economic and job impact delivered by these dynamic industries will require a supportive public policy environment.”