Job market for IT professionals improved slightly in May
10,000 job were added to the IT sector or 18.5% of the total job growth
Job market for IT pros improved. The June 2011 BLS report shows an increase of 10,000 IT related jobs in May. Janco Associates in association with eJobDescription.com analyzed the recent data and confirmed that since January there has been an up-trend in the number of individuals employed in IT jobs. The greatest increase, as a percentage, has been in jobs that are related to the IT support functions as companies are beginning to hire staff positions that were cut earlier in response to the recession. These jobs tend to be the "lower paying" ones within IT’s infrastructure.
The CEO of Janco, Victor Janulaitis said, “There definitely are some positive signs in the IT employment market. Companies are starting to fill positions that are open in support functions and where there are critical needs. " He added, “The flood gates have not yet been opened for general hiring as CIOs are still being cautious in keeping cost down while trying to improve overall service levels. ”
(note - Charts have been updated with the latest data. If you want to see the original charts please contact support at e-janco.com. Text is the original text. Specify which charts and dates you desire and they are available for free to paid subscribers of the CIO - IT Manager Newsletter)
Layoffs abound and there no longer is robust hiring trend for IT Professionals - the economy is slowing. However, there are a number of jobs unfilled by IT Pros. The primary culprit is the lack of qualified individuals to fill the open positions. In our opinion, the IT Job Market is currently at no growth!
The number of unfilled jobs trend line is down as the economy softens and CIOs and CFOs look to control costs and eliminate requisitions for positions that cannot be filled. There was a major pullback of the number of excess jobs for IT Pros - layoffs have impact on number of unfilled jobs available for IT Professionals.
Janco says that the rate of job losses in Telecommunication and Data Processing and Hosting has continued to decelerate. The implication is that if the recovery continues, then there may be positive job growth in those sectors in the not too distant future. Janco estimates that positive job growth in these sectors will be seen by the first quarter of 2012.
IT Job Market Employment Gains
There has been a steady increase in the number of overall employment for IT related jobs. For the last few months the number of individuals employed in IT has increased by 7,300 in March; 9,100 in April; 10,000 in May; and 45,800 in the last 12 months.
In the last three (3) month the IT Job market shrank by 24,600 jobs. This chart is not the originally published one, rather it is updated with the current data based on the analysis by Janco Associates, Inc. For the latest IT Employment Data click here.
IT Job Market Change - December 2023
IT Job Market shrank by 57,400 jobs
Updated with the data from the BLS and Janco Associates Inc as of February 2024
Analysis shows that IT Job Market has shrunk by 57,400 jobs in 2023 versus growing by 267K in 2022. This is a sign that the downturn / recession has hit IT.
Health Care vs. Financial Services Job Growth
Employment is on the rise in Healthcare IT and spending will reach $40 billion by the end of this year. Much of that growth will come from spending on electronic health record (EHR) systems, mobile health applications and efforts to comply with new government standards. Boosted by increased spending on healthcare software -- which is needed for the rollout of EHR systems -- the U.S. healthcare IT market is expected to grow at a rate of about 24% per year from 2012 to 2014, the study said. Spending on healthcare software rose 20.5% in the past year, from $6.8 billion in 2010 to a projected $8.2 billion this year. Recent mergers and acquisitions in the healthcare IT market also point to growing private-sector interest in software, which will see sales grow at rate of more than 30% annually from 2012 to 2014.
For more information go to IT Job Market
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