IT job market improves with 7,100 jobs added in July but still 33,200 jobs behind 2015 pace

10,000 fewer jobs were added in July 2016 than July 2015. Janco now forecasts that fewer than 80,000 new IT jobs will be added in 2016.

Park City - UT - e-janco.com - IT job market improves with 7,100 jobs added in July but still 33,200 jobs behind 2015 pace - Janco’s analysis of the latest BLS data shows that the pace of new IT job creation has continued to fall behind the growth rates of 2015. The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “The growth of the IT job market continues to disappoint as the number of new jobs created continues to fall behind the rate of job creation in both 2014 and 2015. On the plus side with the return to work of the Verizon workers the overall numbers for the IT job market are still positive.

Updated

IT Job Market Size Trend

The IT job Market in CY 2024 shrank by an average of just under 5,000 jobs each month

Source BLS analysis by Janco Associates, Inc.

IT Job Market Change - October 2024

IT Job Market shrank by 8,400 jobs last month - lost 29,100 jobs YTD

Updated with the data from the BLS and Janco Associates Inc as of October 2024 Analysis shows that IT Job Market has shrunk by 48,600 jobs in 2023. In the first ten months of 2024, the IT job market shrank by 29,100 jobs.

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The CEO of Janco, said, “We have reduced our forecast for the number of new it jobs created to be under 80,000. This is still better than 2013 but well below 2014 and 2015. If there is a continued slowing of the economy, then the number of new jobs created in 2016 could fall to 60 to 65 thousand new jobs. That would be a truly bad omen for IT pros and recent graduates.”

The CEO added, “In reviewing the last 24 months of data on new IT job creation, it is very clear that there is a downward bias that has the number of new jobs created pointing to a downward trajectory.” He added, “In direct interviews with 76 CIOs and CFOs we find that they are projecting slower growth rates in the budgets for 2017. Few of these C-level executives are comfortable with the overall direction of the IT job market. This also is reflected in acquisitions for new equipment and major application developments and implementations. Many of these executives are hedging their bets and forecasting flat budgets for the new year. A common thread we heard that it will be easier to come back and get more monies that have to cut after the new year starts.”

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The CEO also said, "On the plus side, CIOs report that CFOs are not completely adverse incremental spending for IT related activities that have operational support and have a good ROI. We have found no IT initiatives that are being approved to upgrade technology for the sake of IT's desire to have the latest new thing. "

In the last three (3) month the IT Job market shrank by 21,900 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

Janulaitis stated, "The current economic picture, especially with factors like the US November election and BREXIT, are not conducive for increased IT spending and job market expansion. In periods like the one we are going through , all companies are cautious and often see cost containment as the prudent direction to follow. The focus for this caution is on IT infrastructure "cost center" spending in areas like training, software - hardware upgrades, and elimination of non-essential consultants, staff and IT initiatives. In addition, as cost cut-savings technique, when "baby-boomers" retire many of those positions are not being filled. "

The CEO said, "We see that finding opportunities for IT professionals is difficult at best. Only those with the right set of experiences are even given interviews. "

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Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business Infrastructure HandiGuides® and Templates including IT Infrastructure Policies and Procedures, Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.