IQNavigator releases IQNdex for second quarter 2012, highlights latest trends in U.S. temporary labor bill rates by job sector and region
DENVER, July 18, 2012 – IQNavigator Inc., the leading provider of services procurement solutions to Global 2000 companies, today released the findings from its Second Quarter 2012 U.S. IQNdex. IQNdex provides data, insights and analysis of temporary labor prices that is not available from any other source and measures the rapidly shifting relationship between demand and supply of the U.S. temporary workforce.
Among the notable trends in the second quarter, the report uncovered:
- The Technical-IT job sector has continued to show slow but steady rate increases, primarily for roles associated with new system design and development.
- Temporary labor has accounted for 15% of all new job creation since January 2012, recovering 86% of the jobs lost during the recession, higher than almost any other industry.
- Temporary labor rates in the South rose the most of any region in the second quarter, especially in the Professional-Managerial and Technical-IT job sectors.
Temporary Labor Rates Rise for Specific IT Roles
In the Second Quarter 2012 IQNdex report, analysis of the Technical-IT job sector temporary worker bill rates reveals that while bill rates overall have risen over the past 18 months, the rate increase is not evenly distributed across all IT roles. Deeper inspection of this sector reveals that bill rates for roles commonly associated with new system design and development are rising, while bill rates for job titles more involved in operations and maintenance have steadily declined since the beginning of 2011.
Graph 1: Spending on the ‘Next Big Thing’
“One of the most interesting findings in the Q2 IQNdex data is that companies are utilizing contingent labor in a strategic way to kickstart important projects that could be engines for future growth,” said John F. Martin, chief technology officer and CEO of Emerging Markets for IQNavigator. This data indicates that contingent labor gives companies the flexibility to tackle these projects in an accelerated and cost-effective way.”
IQNdex Provides Custom Rate Benchmarking for Global 2000
The Second Quarter 2012 IQNdex report provides insight into specific job sectors and geographic regions, and how other economic trends are impacting employers and workers. Further explanation and evidence on these findings is provided in the Second Quarter 2012 IQNdex report, available for download at http://www.iqntelligence.com. Clients of IQNavigator can also request custom market rate analyses (MarketIQ) and detailed benchmark rate reports (RateIQ) via their IQNavigator account manager.
About IQNavigator
IQNavigator is the proven leader in services procurement solutions to help global enterprises better manage all types of procured services and their non-employee workforces around the world. IQNavigator’s cloud-based VMS software processes tens of billions of dollars in yearly services spend for clients, enabling clients to intelligently manage and optimize the cost-effectiveness, compliance, visibility and efficiency of complex services procurement and contingent workforce programs for many of the world’s best known companies. For more than a decade, IQNavigator has been the leader in providing innovative technology solutions for managing companies’ contingent labor and other services, including statement of work and project-based consultants, contractors and other temporary workers. For more information about IQNavigator and how its industry-leading offerings such as IQNtelligence are helping many of the world’s most respected companies, visit www.IQNavigator.com.
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Note to Editors: A detailed graph is being released along with this announcement: “IT: ‘Next Big Thing’ vs. Maintenance.” Additional graphs and a full white paper are available upon request.
Media Contact:
Stephanie Burnham
Vice President, Marketing
sburnham@iqnavigator.com
303-714-9213