14,000 new IT jobs created in May - CIOs start hiring
CIOs pulled the trigger on hiring in May. In the last 3 months almost 40,000 IT jobs have been created - almost 140,000 in the last 12 months…
Park City UT -- https://e-janco.com -- May showed an expansion of the IT job market as CIOs became have approved hiring new IT Pros. The last 3 months show an increase of 39,800 new IT jobs. From BLS data it is clear that the IT job market growth has been averaging 14,000 plus new jobs per month.
Current IT Hiring Plans - IT Job Hiring Slows
The treat of an economic downturn, inflation, high energy cost, and the continued war in Ukraine will continue dampen hiring for IT pros over the the next few quarters.
The CEO of Janco Associates, Inc. , Mr. M V Janulaitis said, "For the most part, the number of new computer science and IT professional jobs has been flat this entire year. " The CEO added, "Many CIOs who were optimistic about the growth of IT budgets and staff in January, now have put hiring plans on hold except for 'must have' replacements and additions for specific areas where operational executives have approved budgets. " In addition, "There is very little appetite for new capital projects which are driven by the need for new technology or upgrades. CIOs are telling people to 'make due' with what they have. "
The CEO of Janco Associates, Inc. , Mr. M V Janulaitis said, "The number of new computer science and IT professional jobs grown this year. 139,100 new jobs have been created in the last 12 months. " The CEO added, "Many CIOs who were optimistic about the growth of IT budgets and staff in January, now have started to execute hiring plans. " In addition he added, "There is now some appetite for new capital projects which are driven by the need for new technology or upgrades. CIOs are telling people that they are working on new technologies and applications. "
Expanding on his comments, Janulaitis said, "The recovery seems moved ahead and CFOs, whom almost half of all CIOs report to, have started to allow for some new incremental spending. "
The CEO of Janco said, "Based on our interviews of 107 CIOs in the last several weeks, we find that new hires are now on board and requisitions are in place for more new hires. This is definitely a signal that job prospects are improving for IT Pros. " Janulaitis cautioned, "A wild card is when national elections are approaching, spending often is curtailed until a better picture of what new economic policies will be in place is known. "
There is significant activity is in the standardization of IT job titles and pay grades. The CEO said, "We have seen significant interest in our IT Job Family Classification System and the alignment and standardization of pay grades. " See more information at https://e-janco.com/it-job-classification-pay-grade.html.
A robust hiring trend for IT Professionals - the recovery 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!
Based on BLS data analyzed by Janco in the first 3 quarters of 2022 an average of 200K IT jobs remained unfilled due to a lack of qualified individuals. In 2023 the number of unfilled jobs has fallen to around 100K.
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 occurred in December - layoffs have impact on number of unfilled jobs available for IT Professionals.
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.
The CEO added, "From a review of the latest BLS data, Janco has found that there was a net increase of approximately 39,800 IT jobs in the last three months and this shows a growth in the number of new IT jobs. "
Janco is an international consulting firm that follows issues that concerns CIOs and CFOs and publishes a series of IT and business infrastructure HandiGuides® and Templates including a Disaster Recovery/Business Continuity Template, Security Template and IT Salary Survey.