While there are more IT job titles and positions than ever before, there are also more companies across every industry relying on tech expertise to propel the business.

Yet while all the current indicators—economic forecasts, hiring predictions and labor market statistics—combine for a rosy IT career picture you do have to keep in mind that all those numbers are just numbers. Things change rapidly in business and those changes quickly impact careers.

Labor market forecasts, whatever their source, aren’t crystal balls. But if you study them thoroughly and critically, they can be among the best tools you have as you contemplate which tech career path best suits your needs and what the future holds for tomorrow’s tech experts.

Trends in 2007

This year hasn’t boded too well for tech compensation despite the demand for more tech labor. In the information technology field, starting salaries rose about 2.8 percent in 2007, according to staffing firm Robert Half Technology.

Indeed, there has been substantial variation in 2007 pay increases across IT occupations, according to Robert Half’s projections. While Web developers were seeing an average hike of 4.2 percent, starting help-desk workers only saw their pay rise just 0.8 percent, or an average $250, to $37,000.

In Salary.com’s survey of salary budget increases, professionals working in computer and electronics manufacturing, computer systems design, and scientific and technical services all are expected to see raises of 4 percent to 5 percent.

Yet pundits are bullish about the IT career path.

It’s great to see demand up, and it’s a great time to be in IT right now,” says Brian Gabrielson, national practice director at staffing firm Robert Half Technology.

Also be aware that business trends, specifically the push to offshore tech work, is still a significant career issue. Another factor is that IT hiring managers are way past wanting only tech skills.

What Hiring Managers Want Today

Candidates must demonstrate business knowledge.

“It’s almost as if the technology is assumed nowadays,” says Gabrielson, noting that techies who understand return on investment and other business concepts have the strongest prospects in today’s hiring environment. “Clients are looking for that business acumen in their hires.”

That perspective is echoed in an October 2006 report from PricewaterhouseCoopers (PWC), which states that in IT, the “battle for talent is about to become even fiercer as companies search for the hybrid employee: Workers who excel at collaboration, innovation and managing change.”

Here’s a look at findings from a variety of recent reports on IT employment: Software developers will see the biggest increases in starting salaries in 2007, with base compensation expected to rise 5.1 percent to range from $60,250 to $94,750 annually, according to the Robert Half Technology 2007 Salary Guide.

Industries expecting strong demand for IT professionals in 2007 include financial and business services, insurance, technology, healthcare and manufacturing.

According to Computerworld’s 2006 salary survey, IT workers saw their pay increase an average of 3.1 percent in 2006, with a number of positions-namely network architects, Web developers and e-commerce directors – seeing increases of 4.8 percent or more. Median base salaries varied widely, depending on the position and level of experience. For senior management, the median base salary was $115,000, while middle managers earned $85,000 and staff/technical positions paid $68,000.

Hot IT job titles in 2007 include project manager, business analyst, program manager and security analyst, according to staffing firm Vedior North America’s 2007 Employment Forecast.

Companies expect IT talent to become even more difficult to find in the next three years. Of the technology executives surveyed by PricewaterhouseCoopers, 71 percent believe competition for industry talent is more challenging in IT than in other industries, while 83 percent say “engineering knowledge with collaborative and creative thinking is in short supply.”

The Hudson Employment Index reflects an increase in worker confidence from a year earlier, edging up to 115.8 points in November 2006 from 101 points in November 2005.