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
Inflation is pushing more people back into the active labor market
101.3 million people in the U.S. are not counted in the labor force - see reasons why not working.
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Historic IT Job Market Size - 4.17 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 Octoberr 2024.
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In the last three (3) month the IT Job market shrank by 3,900 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. Subscribe to our Newsletter to get this information delivered to your inbox as soon as it is released. SUBSCRIBE
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. AI is impacting this postions as more communication AI automation applications are implemented.
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Updated with Latest Data
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