IT Job Market Grows along with the expanding economy
IT Job Market grows by 17,500 in the last 3 months - grew more in the last 30 days then it has in most of the past months
IT Job Market Grows along with the expanding economy - The overall unemployment rate remains at 6.7% but the job market participation rate has improved to 63.2%. There was an increase of 8,300 new IT jobs in March as measured by the BLS data that was just reported. In the last 3 months 17,500 IT jobs were added and in the last 12 months 81,900 jobs were added. The CEO of Janco Associates, Mr. Victor Janulaitis said, "This is fairly good news. Based on our interviews of 103 CIOs in the last two weeks we see that more jobs are being created and a number of CIOs are now looking ahead towards expanding budgets in the next several quarters. " Janulaitis added, "Even with that glimmer of hope, IT Pros still are now out of the recession. Budgets and hiring will remain tight until at least 15,000, or more, IT jobs are created for several months in a row. " The CEO additionally said, "Though the participation rate remains at record low levels, for the first time in over seven years the monthly rate has flattened out and almost equals the rate for the same month in the prior year. "
Labor Participation Rate in the low 60's
Covid-19 Impact US Labor Market
Where have all the employees gone? Is the population being condition
to not work and stay at home?
Just over 100 million people in the U.S. are not working - see reasons why not working. Since the shutdown the labor force participation rate has fallen almost 2% points.
Historic IT Job Market Size
This is not the original data that was published. It has been updated
with data complied by Janco Associates with data as of December 2021.
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.
From a review of the latest BLS data, Janco has found that there was a net increase of 17,500 jobs in the last three months. The three month moving average shows a slight downward movement in the number of jobs added due to a revisions in the of jobs added in January and February. Much of this has been attributed to the harsh winter storms on the East Coast.
When Communications jobs (shrinking source of IT Jobs)
are excluded there is a stronger trend for IT Job Market
growth across all other sector of the IT Job Market.
Updated with Latest Data - Includes impact of recovery from reopening