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Unemployment Rate is High for IT Professionals
Tools that the CIO, CSO, CTO, and CFO can use for Infrastructure, Disaster Recovery, Security, Job Descriptions, ITSM, Salary, Change Control, and Help Desk.
IT Job market shrank by 9,100 in the past three months
Janco reports that IT unemployment hit a new high in August as organizations shift their focus to artificial intelligence.
Six percent of IT professionals were out of work in August, up from 5.6% the month before, according to the Sept. 6 report that analyzed U.S. Labor Department data. The overall U.S. unemployment rate dipped to 4.2% in August. The IT jobless rate has surpassed the national benchmark for seven of the past eight months.
IT unemployment hasn't been this bad since the dot-com bubble burst in the early 2000s but is now being driven by a pivot from traditional IT positions to AI and cybersecurity, accordiing to Janco Associates CEO Victor Janulaitis
The roles that are most in demand right now are roles where candidates have expertise in security, AI and the cloud.
Layoffs continue in IT
Even with 4.18 million employed IT Pros layoffs continue
Layoffs are continuing as large employers of IT Pros continue to trim staff. General Motors that it is planning to cut over 1,000 software jobs. That is on top of the 4,000 plus jobs thta CSCO announced.
IT Job Market growth stalls with hiring freezes
IT Pros Hiring Plummets
Recession hits IT Hiring as for second month in a row as the unemployment rate for IT pros exceeds 5.5% (traditional definition of high unemployment).
Unemployed IT Pros are having more difficulties finding positions at their prior compensation levels in most regions of the country. Currently, it can take several months for unemployed IT Pros to complete the interview process and receive a job offer. This is driven by CIOs and CEOs who have pulled back many open requisitions and halted and/or slowed non-critical IT Initiatives. There are some opportunities for IT Pros who have experience or skills with new technologies like AI and Machine Learning (ML).
Mixed Signals from the Tech Job Market
Skills Mismatch for IT Pro and employers
The problem is you have a growing number of unemployed people (147,000 in June) with legacy skillsets competing for a shrinking pool of jobs
When more applications come in for fewer jobs, it slows the hiring process down.
Janco's data shows that it takes three to six months to find a new job supporting legacy systems and technologies, and just two to three weeks to land a job that requires AI or blockchain skills. Therefore, these two groups have different experiences and perceptions of the tech marketplace.
If youre having trouble finding a job, your best bet is to update your toolbox to include skills that are increasing in demand and value. In fact, close to 70 percent of leaders say they would rather hire a less experienced candidate with AI skills than a more experienced person without them.
Order Interview Hiring Guide Download Interview Guide Selected Pages
IT Unemployment Rate Hits 5%
The number of IT Pros who are unemployed in the US is 128K - Unemployment rate is 5%
In January the report from the BLS the National Unemployment Rate was 3.7% versus the current 5.0% for IT Professionals.
Lower salaries and fewer job openings for many IT Pros
IT pros without AI skills see fewer job opportunities
The rise of artificial intelligence is affecting job seekers in tech who, accustomed to high paychecks and robust demand for their skills, are facing a new reality: Learn AI or they will not expect the same pay packages you were getting a few years ago.
The Wall Street Journal just interviewed the CEO of Janco on the prospects for IT Pros in a job market were their unemployment rates are higher than the US national rate.
Unemployed IT Pros aren't finding jobs because of a mismatch between the skills they have, AI expeience, and how much they expect to be paid. This is based on Janco's analysis, its proprietary IT job market model, and data from the BLS.
See the full story at the Wall Street Journal's website. Search on "Tech Job Seekers Without AI Skills Face a New Reality: Lower Salaries and Fewer Roles"
C-Level jobs on the rise in IT
Median Salary over $209K for C-level Jobs
A preliminary classification of potential reporting relationships between the c-level job title and the CIO is taken from the IT Job Classification which is published as a separate document.
As technology takes a leading role in many enterprises there are now twelve c-level titles that are appearing within many World-Class IT functions. Compensation for those positions exceeds $150K. The most frequently seen position titles are:
- Chief Information Officer (CIO)
- Chief Information Officer - Small Enterprise or SBU (CIO)
- Chief Artificial Intelligence (CAIO)
- Chief Compliance Officer (CCO)
- Chief Data Officer (CDaO)
- Chief Digital Officer (CDO)
- Chief Experience Officer (CXO)
- Chief Information Security Officer (CISO)
- Chief Mobility Officer (CMO)
- Chief Product Officer (CPO)
- Chief Security Officer (CSO)
- Chief Technology Officer (CTO)
AI and ML Job Descriptions
High demand for IT Pros with AI and ML skills
Many companies have Artificial Intelligence (AI) and Machine Learning (ML) as a priority. A limiting factor is finding individuals with the skills and experience to meet those goals. Universities, over time, have provided graduates that meet the needs of businesses to meet their technological needs resources currently are not geared toward providing their graduates with the tools they need to be viable candidates for these positions.
IT Governance, ITSM, and Service Level Agreement Tools
ITSM, SLA, and IT Governance tools released
Janco has just released two offering that address the impact of the new remote workforce operating environment.
The IT Service Management Policy Template MS Word document that contains policies, standards, procedures and metrics that comply with the ITIL Standard. Chapters of the template include:
- Service Requests Policy
- Service Request Standard
- Help Desk Policy
- Help Desk Standards
- Help Desk Procedures
- Help Desk Service Level Agreement
- Change Control Standard
- Change Control Quality Assurance Standard
- Change Control Management Workbook
- Documentation Standard
- Application Version Control Standard
- Version Control Standard
- Internet Policy
- e-mail Policy
- Electronic Communication Policy
- Blog & Personal Web Site Policy
- Travel and Off-Site Meeting
- Sensitive Information Policy
- Work From Home and Telecommuting Policy
Order ITSM Template Download ITSM TOC
The IT Governance Infrastructure HandiGuide addresses the new business operation IT risks and ensures that the activities associated with information and technology are aligned with the overall business strategy.
It includes full job descriptions for Chief Technology Officer (CTO); Chief Information Officer (CIO); Chief Compliance Officer (CCO); Chief Experience Officer (CXO); Chief Security Officer (CSO); Chief Data Officer; Chief Digital Officer; Chief Mobility Officer (CMO); and Digital Brand Manager .
Security Management Best Practices
Top 10 Security Management Best Practices
- Centralize Malware Management
- Establish Boundary Control
- Centralize Provisioning and Authorization Management
- Implement Acceptable Use Policy
- Build Security into Applications Starting in the Design Phase
- Understand and implement all compliance and audit requirements
- Implement Monitoring and reporting processes
- Manage security deployment and infrastructure processes
- Implement network and host defenses
- Constantly validate network and system resource integrity
Read On...