PHILADELPHIA – Placement firm Yoh Services LLC last week reported an overall decrease in technical wages during the second quarter of 2010, despite posting an increase in the quarterly average for the Yoh Index of Technology Wages over the same period.
The Yoh Index of Technology Wages measures the wages in information technology, life sciences, engineering, health care, aerospace and defense markets, with January 2001 as the 100-point benchmark.
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According to Yoh, the index increased 0.29 percent in April to 114.13, but had fallen to 112.55 in June due to instability in the stock market, concern over European debt and the exhaustion of government stimulus spending. At the same time, demand for highly skilled technical workers has increased.
“This inverted wage curve, where demand for skilled workers is increasing while wages are decreasing is extraordinarily rare, and requires a willing work force,” said Lori Schultz, president of Yoh. “The circumstances open up strong opportunities for smart companies to increase productivity.”
In the quarterly report released by Yoh, long-term joblessness and no expectation of increased wages in the near future have created an environment that encourages highly skilled professionals to accept suppressed wage rates.
Yoh has been indexing technology wages since January 2001, and established the Yoh Index of Technology Wages in 2003.
The Philadelphia-based technology staffing company was founded in 1940, and is a business unit of Day & Zimmermann, which also provides architectural, engineering, construction, maintenance and modification services. Additionally, Day & Zimmermann offers munitions production, equipment maintenance and facilities management services to the Department of Defense.
Additional information is available at www.yoh.com.
