CIO confidence wanes as concerns increase
IT job market growth slows from 9,800 jobs in January to 7,900 in May - 87,600 jobs added in the last 12 months. . .
Park City - UT - CIO confidence wanes as concerns increase - The latest BLS data shows a continued slowing in the rate of job creation for IT jobs. The CEO of Janco Associates, Mr. Victor Janulaitis said, "Based on our interviews with over 90 CIOs in the last 30 days, we concluded that CIOs are not in a great hurry to hire new staff. In addition, a number of CIOs do not see any real push to expand staffing over the next 12 months."
In the last three (3) month the IT Job market grown by 21,500. 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.
There was a net increase of 7,900 IT job market in May. There was an improvement in computer systems design and related services of 6,000 jobs (versus 4,700 in April); data processing and hosting related services lost 400 jobs (versus gaining 200 jobs in April); Telecommunications gained 2,900 jobs (versus 1,000 in April); and other information services gained 2,600 jobs (versus 1,300 in April). The three month moving average has moved down.
The labor market participation rate remains at a record low of 63.4%. There are 3,000,000 fewer individuals working than in 2007.
The three month moving average for IT job market growth trend for IT Professionals is flat.
IT Hiring Slows
The latest data for more read on...
Data points to a slowing in the hiring of IT Professionals with 21,500 jobs added in the last 3 months. That is just reoveriing from the "big tech" layoffs in the latst quarter of 2022
Note - data includes the adjustments by the BLS to the initially reported data.
The CEO said, "Janco's CIO Hiring Plan Forecast looks mixed in the short term with CIOs becoming more cautious in their hiring as the recovery stalls and taxes increase. "
Updated with the latest forecast - Read on...
Impact of recovery on the IT Job Market
(Data below was added after this was initially published)
Lastest IT Job Market Size
Data below depicts the historical number of IT Job in four major BLS job classes: Telecommunication; Data Processing, Hosting and Related Services; Other Information Services; and Computer Systems Design and Related Services. It reflects the historical total of the number of IT jobs available to IT professionals.
Historic IT Job Market Size - Over 4.19 Million Employed as IT Pros
This is not the original data that was published.
It has been updated with data complied by Janco Associates with data as of September 2023.
For current information on the IT Job Market review Janco's IT Job Market and US National Employment data.