Technology Wages Rise 1% in Second Quarter

PHILADELPHIA, August 14, 2003 - Wages for technology workers rose 1% in the second quarter, compared to the same period in 2002, according to the Yoh Index of Technology Wages.

Within the technology arena, pay rates for workers in the IT sector showed a significant gain of 3.9%, with the strongest strides being made in the last four weeks. Engineering wages were also up (1.1%), while the scientific sector was flat for the quarter. Overall, the Yoh Index of Technology Wages ended the quarter at 107.22, when indexed to January 2001.

"The Yoh Index of Technology Wages recovered in June after weakening early in the quarter," said Joseph J. Ucciferro, President & CEO of Yoh Company. "The initial decrease was certainly impacted by the outbreak of war in Iraq, while the subsequent recovery may be an indicator for stabilization and growth within the technology job market - it's still too early to tell."

For the first time in two years, nationwide IT wages have improved. "The wage increase within the IT market is a reaction to the growth of positions requiring higher end skills," says Jim Lanzalotto, Vice President, Strategy and Marketing for Yoh. "Demand for high-level IT skills within the areas of bioinformatics, portals and security have been a primary driver in this upward trend."

In Silicon Valley, a bellwether for technology trends, wage rates for IT and engineering workers are beginning to improve. "There's definitely been an up tick," according to Emmett B. McGrath, Regional President for Yoh. "It's modest, but there are certainly signs of improvement in the R&D sector."

"We are seeing continued improvement in the demand for technology professionals," states Scot Melland, President and CEO of Dice, the leading online Job Board for technology professionals, "especially in the areas of defense, engineering and technical sales. Candidates with multiple technical skills and government security clearances are in the highest demand."


About Yoh Index of Technology Wages
The Yoh Index of Technology Wages is based on a quarterly sample of the temporary technology labor pool being utilized by more than 1,000 businesses in the aviation, engineering, IT, manufacturing, scientific, telecommunications and utility communities. This quarterly sample encompassed more than 5,000 technology workers. The Yoh Index of Technology Wages provides a unique barometer of the changes in employer demand and supply of technology talent nationwide. For more information please visit yoh.com/yohindex.


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